SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : SABRATEK CORP (SBTK)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: mod who wrote (230)6/29/1999 8:08:00 PM
From: Peter V  Read Replies (2) of 487
 
Oh, and by the way, Lexecon paid $716,960 to settle the first lawsuit brought against it by Milberg, and by your reasoning about the Milberg settlement, means Lexecon was culpable for the claims asserted against them by Milberg.

Here is another article stating that the lawsuit was based on abuse of process, specifically the use of the first lawsuit to discredit Lexecon in future lawsuits. The fact pattern isn't even close to what we have here.

lawnewsnet.com

The firm was almost certainly facing a substantial punitive damage verdict. Salpeter said he was going to ask the jury for an additional $45 million to punish Milberg Weiss for setting out to destroy Lexecon.

The evidence of that was overwhelming. Jurors heard that Lerach had been angry with Lexecon since at least 1988 when the testimony of company economist Daniel Fischel -- now dean of Chicago University School of Law -- helped derail a huge stock drop class action brought by Milberg Weiss. Two years later, Lerach named Lexecon as a defendant in Milberg Weiss' massive class action stemming from the collapse of the Lincoln Savings & Loan. Lexecon had previously submitted reports declaring Lincoln financially fit.

Milberg Weiss lawyers then used the Lincoln suit to discredit the company's expert testimony in other cases. Douglas Schwab, a partner with Heller Ehrman White & McAuliffe, testified that he stopped using Lexecon because of the Lincoln suit. Lexecon ultimately settled out of the Lincoln suit for $716,960 -- a fact the judge in the trial refused to let into evidence.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News