On Wednesday, June 28th, Rep. Richard Baker will be leading a hearing entitled "Investor Protection: A Review of Plaintiffs' Attorney Abuses in Securities Litigation and Legislative Remedies." H.R. 5491 is a bill that has been gestating in the House since May 25th, a bill aimed at preventing and discouraging the kind of abuses brought to light by the Milberg indictments. There's been little media coverage of H.R. 5491 (one wonders if this has something to do with the industry it's aimed at.) The results of this hearing ought to be interesting.
Center for Legal Policy at the