In his opinion explaining a March dismissal of claims against Moody's and Standard & Poor's, the Manhattan federal district court judge concluded the rating agencies are simply not underwriters, no matter how creatively plaintiffs argue that they are.

Once upon a time, plaintiffs lawyers in the IPO securities class action had visions of billions dancing in their heads. Today, they're quite happy taking $586 million.

For Martens and his bosses in Washington, the stakes in the trial of Fabrice Tourre were huge.

Thanks to a ruling for Massey Energy shareholders, plaintiffs lawyers at Labaton Sucharow and Robbins Geller Rudman & Dowd can continue to pose a question that may turn out to have a very costly answer: Did the coal company take a campaign to rebuild its corporate image too far?

Combined with a previously reported $90 million deal with Lehman directors and officers, a proposed settlement disclosed Friday with a slew of underwriters would bring the plaintiffs' combined recoveries in the case to $507 million. Next up for co-counsel at Bernstein Litowitz and Kessler Topaz? Claims against underwriter UBS and Lehman auditor Ernst & Young.