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Flashback, Sort Of: Remember Jack Grubman?

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The various deadlines for the class action suit against Salomon/Citi for Jack Grubman's analysis of AWE circa 2000 are approaching. (If you traded AT&T during that period, you're probably going to get the litigation flyer in the next few days.) As a reader points out, "sometimes scumbag class action lawyers do good things, like keep stories alive."
The proposed settlement is for a little over $74 million, to be split between the millions of middle American grandmas who were allegedly victimized by bad sell-side analysis. We figure it works out to $2.67 per victimized grandma and roughly $2 million per class action lawyer.
Salomon AT&T Litigation [Berdon, LLP]


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