Massive class action for traders: Milberg Weiss?

Discussion in 'Trading' started by Option Trader, Mar 5, 2007.

  1. It's a bit shocking that when illegal manipulation is detected in the securities markets something more is not done. (The average Elite Trader could probably mention about 5 items not being handled). I would imagine that the individual trader has no power, but if united with others then maybe yes. (Note: we once started a class action that settled for about $100 million; in the beginning, there were many skeptics if such a thing was really feasible.)

    Would Milberg Weiss not be able to handle a massive class action? Or is there something I am missing?
  2. Hey, I thought the ET folks were bold?!
  3. What issue?
  4. PJT


  5. Okay, maybe we'll start with either A) illegal shorting or B) front running, or C) seemingly the specialists?? manipulating the price affect of news announcements to their own favor--depending on if they are long or short.
  6. PJT


    I respect your purpose but Milberg Weiss is no less crooked than a case of insider trading by a market maker:confused:
  7. If I'm not mistaken, that has to do more with going after CEO's etc. regarding individual stocks.
    But what about going after the specialists, MM's, professional stock manipulators?

    On the one hand, it would seem you would want for yourself a clean attorney the same as you would a clean business partner; on the other hand, maybe you need a mud wrestler to handle a mud wrestler??
  8. PJT


    Can't argue with the quote above. :cool:
  9. Problem: Widespread Securities Industry Corruption

    Duration: 200 years

    The 200-300 people...
    That control the Securities Industry...
    Have Ironclad Connections in Congress...
    Always have and always will.

    That's why the NYSE >>> SEC.

    Recent Attempts At Cleanup:

    Even Elliot Spitzer proceeded with extreme caution...
    Took on a few mutual funds...
    Hung Grasso out to dry...
    Made his bones... and now he's in politics.

    Life 101: Learn to live with things you cannot change.