I knew early from my law school days that I had zero interest in litigation. It was probably from Moot Court when that second year law student admonished my tie. I late discovered this second year law student was the mastermind of one of the biggest law school scandals I uncovered a couple of years later and he’s still suspended from the practice of law for lying to the FBI. But that’s another story, you can read elsewhere on this site.
Litigation, especially on a class action level can be a hit or a miss. Litigators recruit plaintiffs, for the expenses, and hope for a quick settlement. For many of those excessive fee cases, they were home runs. But the biggest dud is the litigation against large 401(k) plans with BlackRock Lifepath in its fund lineup.
Most of us in the industry figured these were clunkers and they truly have been. Plaintiffs have had their complaint dismissed and their amended complaints dismissed. One law firm was behind this folly of a dozen cases. As the cases peter out, it was clear that taking on these cases and this fund was a bad idea.
