Plaintiffs’ attorneys are spending more on TV ads in 2009 than they spent during the same period in 2008, according to Harlan Schillinger, vice-president and director of marketing for Network Affiliates, the nation’s largest lawyer advertising agency.Â Schillinger, in an interview with legalnewsline.com, said plaintiffs’ lawyers are spending significantly more so far this year on marketing and advertising.
Network Affiliates’ clients, which include such big name firms as Jacoby & Meyers, The Cochran Firm and the offices of Fleming & Associates of Houston, are spending about 11 percent more than they did last year on TV spots, according to Schillinger.
Securities litigation a growth industry for lawyers?
The legalnewsline.com article also quotes Richard Samp of the Washington Legal Foundation, who says he expects securities class action filings to soar amid the Wall Street meltdown.Â Â “Certainly, all of the major banks and security houses are being sued already in a number of well-publicized suits,” Samp said.
But Samp has a word of caution based upon the recent meltdown and criminal charges involving some former members of the plaintiffs’ securties class action firm known as Milberg Weiss LLP.Â “It’s well known that many firms keep a stable of clients who own small numbers of shares in lots of companies, and that is what got all of the leaders of Milberg Weiss thrown in jail because they were in a sense bribing stockholders to serve as their clients,” Samp said.
The article also quotes a couple of pro-tort reform lawyers.Â If you want to read what they said, you can click here.