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The 2nd U.S. Circuit Court of Appeals has upheld sanctions against two law firms for pursuing frivolous securities claims. New York's Schoengold & Sporn and Philadelphia's Berger & Montague were sanctioned a total of $84,153 based on the fact that under a settlement advocated by Schoengold & Sporn, the plaintiff class in the case would have received nothing, while the firm would have been paid $200,000.
July 13, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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