In the recent dispute in which Judge Rakoff expressed chagrin over the incentives created by law firms' "portfolio monitoring services", he wound up giving lead status to the Public Employees' Retirement System of Mississippi (MissPERS, represented by Bernstein Litowitz) as lead plaintiff, rather than its rival in the case, Iron Workers Local No. 25 Pension Fund; he said (to quote Kevin LaCroix) "that because of 'problematic relationships' between plaintiffs and their counsel, he was faced with a choice between 'two less-than-perfect plaintiffs'". For Tom Freeland, the episode stirred memories of the considerable sensations that have arisen over the years about the relations between Mississippi officials and the outside lawyers they hire.
State of Mississippi as securities plaintiff
Related Entries:
- Courts still ignoring cy pres requirements
- Responding to Professor Fitzpatrick on class action fees
- SEC and Citigroup Anxiously Await Ruling
- GAO on Stoneridge and secondary liability
- Roundup, July 18
- Around the web, June 7
- Why is Stan Chesley working for Ohio state pension funds?
- "Whatever Happened to IPOs?"
- What pro-business bias? (continued)
- Around the web, March 14
- Around the web, March 1
- "A nation of lawyers and judges"
- Around the web, January 20
- Around the web, January 6
- Do securities lawsuits help shareholders?
![]() |
| Isaac Gorodetski Project Manager, Center for Legal Policy at the Manhattan Institute igorodetski@manhattan-institute.org |
![]() |
| Bridget Carroll Press Officer, Manhattan Institute bcarroll@manhattan-institute.org |



