fbpx

Sears lawsuit only benefits plaintiffs’ lawyers

Average Ridiculous Rating
1 Star2 Stars3 Stars4 Stars5 Stars (24 votes, average: 4.58 out of 5)

The 7th Circuit Court of Appeals called a derivative shareholder lawsuit against Sears “an abuse of the legal system” with the “only goal … to be fees for the plaintiffs’ lawyers.”  This was a victory for Ted Frank, head of the Center for Class Action Fairness as well as a Sears stockholder, who had challenged the proposed settlement, arguing it would offer no real value for shareholders while paying $925,000 to lawyers.

Add comment

Your email address will not be published. Required fields are marked *