Brainwashed
Reader comment on: The One Best Idea

Submitted by Marc, May 3, 2007 20:32

e corporate lobby has really done a fantastic job of convincing people that class actions aimed at stopping corporate fraud and greed (can you say backdated stock options) is bad for America.
The truth is that most lawsuits get dismissed (not settled) because Congress beholden to big business has enacted laws making it extremely difficult for a plaintiff to overcome a motion to dismiss a class action securities complaint.
If a plaintiff does succeed in overcoming a motion to dismiss, it is because a judge is convinced that there is a strong likelihood that the corporate defendants are liable for securities fraud. For that reason, these cases thereafter settle so that the corporation does not have to admit to any liability. One final point is that these so-called greedy plaintiff lawyers work on contingency (they work for free and get paid only if the shareholder gets paid). Try asking your doctor to waive his fee and expenses if the operation is

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