Don't Trust Snakes: Gee, who knew that securities class action plaintiffs' lawyers were sleazeballs?

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“I know where I'm headed.”

ROGER THORNHILL

Friday, May 19, 2006

Gee, who knew that securities class action plaintiffs' lawyers were sleazeballs?

As a securities lawyer it's hard not to take a certain pleasure in this. It's no surprise that these self-righteous plaintiffs' lawyers had a sleazy kickback system with their named plaintiffs. I'd always assumed as much, but also assumed that the amounts involved were smaller and that they'd figured out ways to sanitize the arrangements.

I wonder how the Section 16 bar compensates plaintiffs. If you don't know what "Section 16" refers to, you have no idea how lucky you are.

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