Seventh Circuit Slams Plaintiffs’ Lawyers in Sears Lawsuit

Wall Street Journal ^ | 06/13/12 | Joe Palazzolo

[AtlasStalled]

The Seventh Circuit Court of Appeals, in no uncertain terms, spiked a derivative lawsuit filed against the board of Sears Holdings on Wednesday, ruling that it “serves no goal other than to move money from the corporate treasury to the attorneys’ coffers.”

[DarrellZero]

Good for them.

[Ken522]

...“serves no goal other than to move money from (any defendant) to the attorneys’ coffers.”

Isn't this the goal of any attorney??

[freeangel]

Attorneys who do this crap need to have some sort of fine imposed .

[oh8eleven]

serves no goal other than to move money from the corporate treasury to the attorneys’ coffers.
Sounds just like the Agent Orange settlement: lawyers struck gold - VN vets got the shaft.

[Jim Scott]

A rare but welcomed ruling in a bogus lawsuit case. Kudos to Judge Easterbrook for his common sense decision and well-deserved rebuke to the conniving attorneys that instituted this lawsuit with the expectation of reaping a huge windfall in undeserved fees. If only we had more decisions such as this when these bogus lawsuits end up before a judge.

[RicocheT]

Who was the idiot District Court judge who let this case start?

[GadareneDemoniac]

What a shame! If this had been allowed to go forward, I bet we could have filled out a three page questionnaire and gotten a coupon for 25 cents off a set of wrenches from Sears if we buy them by November 18, 2012. The lawyers would get 7 million dollars up front, of course.