Below is the first part of an article by Daniel Fisher from forbes.com. It reads…
It was a routine little piece of litigation, the kind of lawsuit plaintiff attorneys file practically every time one public company buys another in this country. Most end with the lawyers getting a nice fee, while their clients get little to nothing at all.
In this case, one man got something more: His name on a lawsuit he says he never agreed to file. The lawyer who put his name there nearly lost his license for a year, and the rest of us have a good example of why class actions are often more about enriching lawyers than their clients, and why the legal profession should do a better job of policing itself.
On Sept. 7, 2010, Bristol-Myers Squibb agreed to buy Seattle biotech company ZymoGenetics for $885 million in cash, an 84% premium to the previous day’s market price.
Marc Primo Pulisci is a Los Angeles based attorney practicing with Initiative Legal Group. Marc Primo Pulisci has been practicing law for over 10 years. Find Marc on Marc Primo Twitter, Marc Primo Manta, Marc Primo Facebook, Marc Primo Squarespace, Marc Primo Dot Com, Marc Primo Pulisci Dot Com, Marc Primo Myspace, Marc Primo Pulisci Blog, Marc Primo WordPress, Marc Primo Blog