It took six hours for jurors in Chicago to slam Milberg Weiss Bershad Hynes & Lerach with a $45 million verdict for improperly filing suit against old litigation foes. It took Milberg Weiss just one day to erase the judgment by adding $5 million to the price tag, agreeing Tuesday to settle for $50 million before jurors could consider punitive damages.
The kings of the plaintiffs class action bar were on trial for carrying out a courthouse vendetta against economic experts who had testified against them — sometimes successfully — in the past. The case was brought by Chicago-based consulting firm Lexecon Inc. and its economist Daniel Fischel.
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