Tuesday, June 06, 2006

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


Wall Street Versus America was published by Penguin USA on April 6.
Click here for its Amazon.com listing and here for more information on the book, from my web site.


Links to this post:

Create a Link

<< Home

Enter your email address:

Delivered by FeedBurner