For Mel Lifshitz, Trust Is a Two-Way Street
Nothing NewQuestions about possible conflicts of interest are nothing new in the securities class-action bar. Federal prosecutors are investigating allegations that two of the biggest securities class-action lawyers, Mel Weiss and William Lerach, directed the payment of millions of dollars in "kickbacks'' to a retired Florida attorney to serve as a lead plaintiff in more than 50 suits they filed by Milberg Weiss Bershad Hynes & Lerach. Before it split up into two firms in 2004, Milberg Weiss was the nation's most successful securities class-action firm.
The investigation of Weiss and Lerach is raising questions about some of the dubious methods that plaintiffs' lawyers have used to round up clients in order to file class-action lawsuits.
With regard to Lifshitz, Colbart Birnet has appeared as a plaintiff in class actions filed by his firm against a number of mutual fund companies, as well as Guidant (GDT) and Dynegy (DYN). Typically, the suits have alleged violations of securities laws and sought monetary damages from the defendants.
Colbart Birnet most notably appears as the lead plaintiff in a
pending class action against Federated Investors
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV