http://overlawyered.com/2008/11/nice-work-if-you-can-get-it/ Chronicling the high cost of our legal system Tue, 14 Feb 2012 16:26:11 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://overlawyered.com/2008/11/nice-work-if-you-can-get-it/comment-page-1/#comment-35429 Marvin Fitzsimmons Tue, 25 Nov 2008 01:10:37 +0000 http://overlawyered.com/?p=7909#comment-35429 Don't forget that Milberg is one of the lead "other class action lawyers" on Xerox and - according to a July 2008 Wall Street Journal piece - Mel Weiss will collect fees from the case while sitting in federal prison. I thought the PSLRA was supposed to ensure institutional investors like LASERs negotiated a good fee for the class? Cornyn needs to get his Securities Litigation Attorney Accountability and Transparency Act through congress ASAP. Don’t forget that Milberg is one of the lead “other class action lawyers” on Xerox and – according to a July 2008 Wall Street Journal piece – Mel Weiss will collect fees from the case while sitting in federal prison. I thought the PSLRA was supposed to ensure institutional investors like LASERs negotiated a good fee for the class? Cornyn needs to get his Securities Litigation Attorney Accountability and Transparency Act through congress ASAP.

]]> http://overlawyered.com/2008/11/nice-work-if-you-can-get-it/comment-page-1/#comment-35400 Joseph Brandt Mon, 24 Nov 2008 18:22:17 +0000 http://overlawyered.com/?p=7909#comment-35400 Why on earth would Bernstein Litowitz be entitled to $7.5 million in fees for hiring temps if they did almost nothing else on the case? Bernstein clearly wasn't brought into the Xerox case for its legal expertise. According to the Forbes article, lead counsel said Bernstein was involvement was to "spread the risk." Since all they did was pay for a bunch of temps, Bernstein's receipt of attorneys fees probably violates any number fee-sharing rules. (shocking) Why on earth would Bernstein Litowitz be entitled to $7.5 million in fees for hiring temps if they did almost nothing else on the case? Bernstein clearly wasn’t brought into the Xerox case for its legal expertise. According to the Forbes article, lead counsel said Bernstein was involvement was to “spread the risk.” Since all they did was pay for a bunch of temps, Bernstein’s receipt of attorneys fees probably violates any number fee-sharing rules. (shocking)

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