Trial lawyers

Trial lawyers vow big anti-Perry push

Aug 22, 2011 By Paul Burka

The story ran in Politico on Monday: America’s trial lawyers are getting ready to make the case against one of their biggest targets in years: Texas Gov. Rick Perry. Among litigators, there is no presidential candidate who inspires the same level of hatred — and fear — as Perry,…

Almost rich

Jul 2, 2010 By Paul Burka

I thought my ship had come in when I received in the mail yesterday a notice from the Missouri Circuit Court, 22nd Judicial District, City of St. Louis, informing me that I may be a class member in a class action lawsuit against A. G. Edwards brokerage. "You may be a Class Member and entitled to benefits from the settlement of this certified class action lawsuit," the Court informed me. It seems that I held shares of mutual funds between April 12, 2000, and April 12, 2005, during which time Defendants A. G. Edwards Inc. and A.G. Edwards & Sons breached their fiduciary duty to me and to other customers and were thereby unjustly enriched. The parties have agreed to settle this lawsuit (I read, salivating with anticipation and greed) for a total of $60 million. There are a few speed bumps. "The parties disagree on both liability and the amount of relief obtainable by the Class." There is also a dispute over whether state law claims are preempted or precluded by federal law. The malevolent defendants admit to receiving and retaining revenue sharing payments from certain mutual fund companies. As I read it, A. G. Edwards got payola to invest my money, and that of 1,672,924 of my fellow victims, in second- or third-rate mutual funds. This kind of sleazy behavior is exactly why litigation is important and why we need trial lawyers to protect us from these corporate predators. Now we get to the heart of the matter. What do I get? When can I buy that ranch I have always wanted? "Defendants are depositing $26 million in in cash into an escrow account which will earn income for the benefits of the Class, and defendants will distribute $34 million in Individual Credit Vouchers to be used by Class Members who maintain current accounts with Wells Fargo Advisors (which acquired A. G. Edwards after the latter was unjustly enriched to my detriment), against certain fees that would otherwise be charged by Wells Fargo Adivsors...." And here it is:

Craddick Says Trial Lawyers Out to Get Him

Oct 25, 2007 By Paul Burka

The morning news clips carry a story from the Midland Reporter-Telegram about a speech Tom Craddick gave yesterday to the Downtown Lions Club in which Craddick said that the challengers to his speakership, Republicans all, are backed by trial lawyers who want to repeal the lawsuit reform he…

Don’t Put It in Writing

Sep 5, 2007 By Paul Burka

In the journalism business, there’s a saying that some stories “write themselves”–that the situation is so clear, and so egregious, that all the writer has to do is describe what happened. Such is R.G. Ratcliffe’s story in today’s Chronicle about Mikal Watts’s boasting about his influence with…