Roger Parloff at Fortune looks at the outlook for prosecutions over the financial implosion. One major source of potential criminal liability: over-rosy business statements put out by executives in hope of keeping customer/supplier confidence from tanking (cross-posted from Point of Law).
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The plaintiff’s bar must be drunk on the idea of so many injured people with a perceived common thread…”how can we lump them together and lay blame on big-corporate deep pockets?” The suits will go on for decades, the “victims” will reap peanuts, the defendants will vacation in the Caymans, the lawyers will retire wealthy…and this will be called just.