Securities Lawyer Weiss Sentenced for Kickbacks
Professor Joseph A. Grundfest comments on National Public Radio about Milberg Weiss' conviction on kickbacks as well as the current securities class actions situation:
Stanford law professor Joe Grundfest says Milberg Weiss was the king of the courthouse.
Professor JOE GRUNDFEST (Law, Stanford University): There was a time when it was sort of the Microsoft, the Intel, the IBM, the Google and the Yahoo wrapped into one.
Questioned by Scott Horsley about the drop in the number of securities class actions "Professor Grundfest notes that since then the number of lawsuits has rebounded, including dozens of new suits related to the subprime mortgage mess.
Prof. GRUNDFEST: Business is up, and as far as we can tell, there's no shortage of class action plaintiff lawyers who know how to file a complaint against companies that have committed fraud.