without commenting on Allaire's situation in particular, since who knows
what the real facts may or may not be... Milberg Weiss has a strong
reputation in the legal profession--mainly for going after companies with
lawsuits that would cost the company more to fight than to just settle
quickly. It's predatory lawyering at its best !
This is how an attorney who used to work there handling these type of suits
described it to me:
Typically, they file the suit whether or not they have any a priori facts to
justify the suit, a great time is after any substantial drop in the target
company's stock. Then by the nature of having filed the suit, and they seem
to love the ol' 'class action' method, they claim that the discovery process
means they should have full access to the company's books (thus giving them
the access to the facts they need to justify the suit in the first place).
Often, the victim companies find it much easier to just pay Milberg Weiss a
fee to just settle the thing. For this, the senior partners' year-end
bonuses at M.-W. seem to run in the 8 figure range.
However, the same authority that has provided this info with respect to how
such a reputable law firm operates, also claims that the firm may not
survive a like audit of itself, particularly since they pay a flat annual
fee for access to Lexus-Nexus yet charge their clients a per-use fee, which
another lawyer described to me as slightly worse than padding the time
sheets since it's a form of fraud.
Only in the USA!!! :)
> What do you long time cold fusion developers see with this story?
>
> "Milberg Weiss Announces Class Action Suit Against Allaire Corporation"
>
> For the full story ...
> http://biz.yahoo.com/bw/000925/ny_milberg.html
>
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