Showing posts with label class action. Show all posts
Showing posts with label class action. Show all posts

Tuesday, August 12, 2014

Are Class Action Suits Right for You??

Will say that a Class Action Law Suit is on way for the many "Common Folk" to go against Big Business.

However, when we apply the Basic Equation of $$$$=Greed=Corruption, here is what can happen.

Noting, if you have an Family issue with the Child Protective Agency, may a suggest a very good group on FaceBook:Families Against Government Abuse ? 
Getting close to 5,000 members.
This group has been created to provide parents, grandparents, aunts, uncles, extended family, attorneys, and others who are interested in the issue, crucial information regarding how they can pursue their rights against Child Protective Service agencies across the country. We will continue to post relevant information, including cases, articles, and templates as a free resource to enable readers to access information and working documents that can be easily adapted to meet particular circumstances.

Sidenote: Be that One Small Voice and take Our Parent Survey when faced with the Child Protective Agency>> Learn More

~~Check Out the Article~~

Legal System Catches Up to Master of Disaster Mass Tort Trial Lawyer

August 12, 2014
A Wall Street Journal op-ed today commented on the poetic justice of “class-action kingpin” Stanley Chesley’s recent legal troubles. The famed mass tort trial lawyer who “built a career gaming the legal system for his benefit” may now be held accountable—to the tune of $25 million and possible punitive damages—for having “knowingly participated in a scheme to skim millions of dollars in excess attorney’s fees from unknowing clients.”

As we reported on August 6, Chesley, known as the “Master of Disaster,” won $200 million in a fen-phen diet drug settlement in 2001; two attorneys in the case later went to jail for “cheating their own plaintiffs out of all but $46 million (23%) of that award.” Chesley, who pocketed $20 million of the settlement, was granted immunity in the federal trial but was disbarred in Kentucky last year for his role in the scandal.

According to the article, the July 29 ruling by Boone County Judge James Schrand to hold Chesley jointly and severally liable for the $42 million civil judgment following the scandal is a victory for the legal system and demonstrative of “how common fraud is in the lawsuit-manufacturing industry.”

Related News

New U.S. Chamber Reports Signal Enhanced Risk of Lawsuit Abuse in Latin America

August 05, 2014 | Insights
Russell G. Ryan, former assistant director of enforcement at the SEC, writes an op-ed in today's Wall Street Journal entitled, "The SEC as Prosecutor and Judge." Read More »

In The News Today - July 29, 2014

July 29, 2014 | Insights
Smith & Wesson Holding Corp. agreed to pay $2 million to resolve a Securities and Exchange Commission investigation into allegations of violations of the Foreign Corrupt Practices Act. Read More »
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Thursday, January 3, 2013

Class Action lawyers game the system for Personal Gain

Class Action law suits have been quite an arena for those who want to try to fight the system on a big scale. And yes there have been many successful Class Action Lawsuits.
But in keeping with the theme of this title, here a few points where many lawyers have done it for their Personal Gain and Not Necessarily for their clients best welfare.
For example, NIA made a comment in their article,
"College Bubble Set to Burst in 2011", January 12, 2011:
" The artificially high incomes of lawyers are made possible entirely by inflation, which steals the wealth from hard working goods producing middle-class Americans and transfers it to those who add no real value to society."
Please make no mistake, I am not discounting the fact that there are hard working, and ethical lawyers in our society. However, when the balance between Personal Gain and Working for the Client become an issue, I feel all of us should question the motives.
So do read some of the examples below:
Washington Times | Jan 03, 2013
Recently, the 6th U.S. Circuit Court of Appeals decided an interesting case involving big-money lawyer fees in class actions, U.S. v. Gallion, et al.
Tags: Legal Ethics, Securities Litigation, Trial Lawyers' Influence

ThomsonReuters | Jan 03, 2013
Last June, while the country was transfixed by the U.S. Supreme Court's ruling on the constitutionality of Obamacare, the justices quietly ducked an issue that has bedeviled Silicon Valley for more than a decade. The court issued a ruling that it had "improvidently" granted certiorari in a case called First American Financial v. Edwards, which presented the question of whether plaintiffs have standing to sue if they cannot demonstrate an injury.
Tags: Class Action

The Recorder | Jan 03, 2013
The chief judge of the U.S. Court of Appeals for the Ninth Circuit handed plaintiffs securities lawyers a partial victory Wednesday, while one of his protégés handed them a flat-out loss.
Tags: California, Securities Litigation

Forbes | Jan 03, 2013
In his superb new book The Financial Crisis and the Free Market Cure, John A. Allison, former longtime chairman and CEO of BB&T Bank and current president and CEO of the Cato Institute, marshals exceptionally broad and long experience and sharp analytical focus to prove the case that the free market produces not only economic efficiency, but also justice.
Tags: Class Action

Southeast Texas Record | Jan 03, 2013
Collectively, personal injury trial lawyers, spend more in campaign contributions than any other business, industry or profession in Texas.
Tags: Texas, Trial Lawyers' Influence

American Lawyer | Subscription Required | Jan 03, 2013
Columbia Law School professor John Coffee Jr. looked at these trends and came to an intriguing conclusion: The SEC should admit when it's licked and team up with private contingency fee counsel.
Tags: Financial Services, Legal Ethics, Trial Lawyers' Influence

Reuters | Jan 03, 2013
Litigation funder IMF Australia said it will back lawsuits in Europe related to billions of dollars worth of toxic derivatives created by ABN AMRO Bank N.V. and rated Triple-A by Standard & Poor's after winning a similar case in Australia.
Tags: International, Third-Party Litigation Financing
Financial Times | Subscription Required | Jan 03, 2013
The four largest international auditing firms are trying to persuade regulators that they are more vulnerable to negligence claims than they seem - as part of a broader campaign to stave off measures to dilute their market dominance.
Tags: Financial Services