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Taking Big Business to Court36:17
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photoThe corporate wrongs of Enron and WorldCom brought the plight of the victimized shareholder to a national stage, opening up the floodgates for class action litigation. Major pension funds and labor unions are suing the companies found guilty of stock market abuses and fraud.

By holding the companies pocketbooks accountable, class action lawyers can make a fortune off each case, taking as much as a third of the plaintiff's winnings. But suing companies can also be the most direct way to affect change in corporate governance.

In this hour, fighting for the private investor. Can litigation bring about corporate reform? Or is holding big business accountable in court too little, too late?

Guests:

William Lerach, Securities Lawyer with Milberg Weiss Bershad Hynes & Lerach

J. William Gibson, Professor of Sociology at Cal State Long Beach

This program aired on August 6, 2002.

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