Why is the WSJ Defending Milberg Weiss?
As reported by Peter Lattman in the WSJ's Law Blog, an editorial in today's Wall Street Journal has harsh words for the DOJ's indictment of Milberg Weiss. Why would a newspaper that caters to big business and corporate interests defend a class action firm whose raison d'etre was to sue big corporations (WSJ's primary constituents) for securities violations? Here's the answer from Lattman:
"DOJ's stance of threatening to indict unless it waived attorney-client privilege and label its partners criminals. The editorial warns that this is "a dangerous precedent that can be used -- and surely will be -- against more honest business enterprises." It adds: "The threat of a corporate death sentence is an abuse of prosecutorial discretion against any but the most corrupt criminal enterprises -- namely, the mob."
And citing similarities to Arthur Andersen, where the government tried to take the whole firm down, the editorial expressed concern that by going after the law firm, DOJ would harm not just the bad actor lawyers, but bring damage to its support staff and other innocent employees as well.
Posted by Carolyn Elefant on May 22, 2006 at 03:59 PM | Permalink
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