Posted on 06/21/2011 4:33:09 PM PDT by mdittmar
Joseph Sellers is in the hole by about $7 million and does not expect to dig his way out any time soon.
As lead counsel to the plaintiffs in the Wal-Mart Stores Inc employment discrimination lawsuit tossed out by the United States Supreme Court on Monday, Seller's law firm, Cohen Milstein Sellers & Toll, dedicated about $5 million in attorney hours and spent $2 million on experts and discovery in the decade-long case, he said.
The Court found the claims filed by as many as 1.5 million women against the retail giant were too varied to permit class certification. The Court did not rule on the merits of the plaintiffs' claims and left the door open for smaller, narrower groups of plaintiffs who could pursue other class actions. But so far, Cohen Milstein has not seen any return on its investment.
"All our fees and expenses are at risk," Sellers said, referring to the Wal-Mart case.
Cohen Milstein is a plaintiffs' powerhouse that has made a successful business of bankrolling expensive, massive class actions. In recent years, the 60-attorney firm with offices in New York, Washington, Philadelphia and Chicago, has won hundreds of millions of dollars against the likes of Mercedes Benz, Bristol-Myers Squibb, 3M and Christie's International. The firm focuses on antitrust, civil rights, product liability, securities fraud and employee discrimination.
(Excerpt) Read more at reuters.com ...
So the 250 junior associates at his firm won’t be getting a Christmas bonus this year.
No tears here - he put them at risk in the hopes of a HUGE payoff bankrupting WalMart.
You cannot possibly imagine how sad this makes me;)
HA HA HA HO HO HO HEH HEH!!!!!!!!!!!! BOTTOM FEEDING SCUMBAGS.
Oh, boo F’ing Hoo. All of their fees and expenses are at risk. Who is crying for the defendant’s stock holders who were about to be destroyed?
Trial Lawyers and their channeled suffering...
Class action suits no longer work. I have been notified of four of them in the past few years. I wont join. fifty bucks to make lawyers rich? I would rather not.
Winning!
Winning!
Yeah, the women were tall, short, young, old, heavy, thin, all sorts of skin colors... no way to see any commonality. Sorry.
Oh yeah, and Hillary used to be on the board of directors of WalMart, and China floods the country with economic warfare through WalMart, but that's irrelevent, so don't think about it.
Move along.
Their greed got ahead of procedure. All they could see were Wally World’ assets.
You cannot possibly imagine how sad this makes me;)
_____________I am sitting next to you and crying madly....Bwaahhhhhahahahahah!
sometimes the bear gets you.
Way it goes.
It appears someone forgot that WalMart is an essential part of the up and coming NWO.
OK, I'm over it.
I think the norm for attorney fees in a class action suit is about 25%. That’s 25% of every single class member’s share of the award, which adds up pretty fast. And, in addition to the 25% loss, each class member also gives 38% off the top to the government, leaving them with about 37% of their single award.
It’s no wonder attorneys are willing to risk 7 mil for a shot at billions, and to hell with the real plaintiffs.
If only we had Loser Pays in litigation.
Couldn’t happen to a nicer bunch of conniving shysters and greedy ambulance chasers.
No sympathy for these scoundrels here......
Lyon, Cryan, Over, Dunn & Out.
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