A column by Maggie Mulvihill in yesterday’s Boston Herald concludes that the state government probes into the financial services industry have been a boon for the securities plaintiffs’ bar.
Quote of note: “Bill Galvin. Drew Edmondson. Elliot Spitzer. To big business, they are bloodsucking fiends intent on using corporate finance scandals to advance their own political positions. But to plaintiffs’ lawyers, these guys are a dream come true. Their state probes and lawsuits are already opening the floodgates of hard-to-get corporate data – not to mention emboldening civil litigators to start papering courthouses with lawsuits against the financial services industry.”