Posner vs. the Plaintiffs Bar
One of life’s more bracing experiences is being on the receiving end of an opinion by federal Judge Richard Posner, and this week it couldn’t have happened to a nicer group
of hold-up men.
In a 2-1 decision for the Seventh Circuit Court of Appeals, Judge Posner rejected a class-action settlement that essentially extorted money from the merger between Walgreens and Swiss company Alliance Boots GmbH. In a so-called strike suit, plaintiffs attorneys demanded that Walgreens provide additional disclosures to its voluminous...