A Finlayson Moment in Class Action Law
Business Week's Tim Mullaney catches an embarassing boo-boo in a class action suit filed recently concerning the Vonage IPO.
Seems the plaintiff's lawyers (the esteemed firm of Motley Rice LLC) claimed the underwriters were getting a 17% commission -- much higher than the typical 7%! -- when it was just a goof. Really a bit over 7%.
I call this a "Finlayson moment," as in the great James Finlayson, foil to Laurel & Hardy, who on such occasions would say, "Dohhhhhhhhhhh!"
© 2006 Gary Weiss
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