Yesterday’s Supreme Court ruling in the Halliburton case leaves the securities class action system pretty much unchanged. And that isn’t because the Supreme Court examined the system and concluded it is working well and makes sense. Instead, the Court simply didn’t address those questions.
That’s very good news for the lawyers who make their living representing plaintiffs and defendants in these cases. The gravy train will continue: $1.1 billion in fees and expenses awarded to plaintiffs’ counsel in 2013, with hourly rates up to $1370. Defense counsel likely took home a multiple of that amount, given that securities class actions
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