June 11, 2008

Larry Ribstein writes:

Michael Perino has written a paper, The Milberg Weiss Prosecution: No Harm, No Foul?, which has gathered significant attention, including a publicized presentation at AEI, and substantial notice by leading New York Times columnist Joe Nocera. The basic question the paper addresses is whether the actions of Milberg Weiss and its now disgraced principals, including Melvyn Weiss and Bill Lerach, injured the very plaintiffs they were supposedly championing by paying kickbacks to named plaintiffs. Because Perino's paper raises some significant policy issues, several of which Bruce Kobayashi and I have dealt with in our prior work, we have done an extended analysis of Perino's paper in this post on my blog.

Michael Perino responds.