Friday, July 11, 2008

This Is Why People Hate Lawyers

"The settlement provides the class members with fair, reasonable and adequate compensation for their claims," wrote lead counsel for the plaintiffs, Scott Kamber of KamberEdelson in New York.

What is the settlement you ask? How does around $2 for each of the plaintiffs in the Ameritrade hacking scandal and $1.8 million or $1360 an hour for the lawyers sound? Also not very good for the lawyers reputation, the lead plaintiff now says that the deal sucks and that his lawyers threatened him into signing.

Read the whole story over at Wired.

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