A new, controversial and potentially lucrative client solicitation technique employed by securities fraud litigators at Weiss & Yourman got the blessing of the Securities and Exchange Commission last week, in the form of an amicus curiae brief.
The Los Angeles firm this year convinced several brokerage houses to send out mass mailings informing their clients of stock-drop suits that Weiss & Yourman had filed. Weiss & Yourman in turn reimbursed the brokerage houses for the mailings, and then hoped that the stock traders would sign on as plaintiffs with the firm.
