The impact of the Milberg Weiss criminal indictment on the business of securities class actions continues to be the subject of media interest. In the last few days, articles on this topic have appeared in Forbes and the Los Angeles Times (free regist. req’d). The general consensus? Other firms would step into any gap.
Quote of note (Forbes): “‘If they were to disappear tomorrow, I doubt very little would change,’ says Joseph Grundfest, a professor at Stanford University Law School and former Securities and Exchange commissioner. ‘The same companies would be sued, the same causes of action would be pursued.'”