Looking For Trouble In Promising Places

An article in the Financial Times examines the recent “Mass Torts Made Perfect” seminar held in Chicago. The trial lawyers in attendance appear to agree that Wall Street is a ripe target, with the $1.4 billion settlement by the investment banks for analyst fraud merely the beginning.

Quote of note: “Mike Papantonio, the head of the mass tort department at Florida law firm Levin, Papantonio who has a record of securing million-dollar awards, said: ‘The money from Spitzer is a drop in the bucket. [Investment bank] reserves need to be in line with the major pharmaceutical companies.'”

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