DrBenway

Plaintiffs' lawyers who won investors a $586M settlement in class-action suits related to the 2000 bursting of the tech bubble want $245M of it for their fees, according to a court filing by an opposed investor. The plaintiffs' counsel say they spent 677,000 hours on the case.

Just a quick check shows that they value themselves at more than $400 an hour, probably including clerks, secretaries, and paralegals!

So investors get ripped off twice: first by banks and then by their own lawyers.

If I need bloodsucking leeches, I can just go to a local pond...