February 9, 2006

Cardozo lawprof (and adviser to this site) Lester Brickman, quoted by the N.Y. Sun's Josh Gerstein on the latest maneuver by Bill Lerach in a class action against Time Warner:

For most shareholders, class action litigation is a losing proposition because mostly it takes money from the shareholder's right pocket, transfers it to the shareholder's left pocket and charges the shareholder a commission of 30% or more for having had the assets transferred.