Appellate judge sends lawyers' windfall up in smoke
The News-Gazette covers CEI’s Center for Class Action Fairness’ Walgreens case:
It’s a textbook example of a legal shakedown conducted by lawyers who purported to represent Walgreens stockholders. In reality, the lawyers represented themselves, agreeing to a marginal settlement that did nothing for their clients but for which they were to be paid $370,000.
Their plan worked beautifully until the Washington-based Competitive Enterprise Institute decided to challenge the settlement. Ultimately, the case ended up before the 7th Circuit, where Posner wrote a decision that its proponents hope will discourage similar litigation in the future.
Source: https://cei.org/content/appellate-judge-sends-lawyers-windfall-smoke
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