Entrepreneurial personal injury law firm Schlichter, Bogard & Denton understands timing. Its target is the fees in those 401(k) company plans.
Everyone is losing money. Why not give hope that they may be able to get some of it back. I went along with the plaintiff lawyers who were supposed to be going to bat for me on the money I lost in WorldCom. They got me back about $19 of my original investment.
The approach of this kind of class-action lawsuit is the fees. Since few understand those plans anyway, never mind the fee structure, this is great.
In Pointoflaw.com, Walter Olson reports that Schlichter used to represent railway workers. Already it has filed lawsuits against deep pockets like General Dynamics, United Technologies, Lockheed, and Boeing. The law firm, notes Olson, is also no slouch in forum-shopping. Filings have been made in the Southern District of Illinois.
Given the timing, could this go the distance like asbestos, or better yet, tobacco? Unlike lead paint and obesity suits, this kind might get some traction.
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