Track the fallout from the mortgage meltdown (or the uptick, if you’re a bankruptcy lawyer) in our roundup of stories about the battered economy’s effects on the legal profession.
Calamari believes most full-service firms will be too timid to horn in on plaintiff-side litigation. He expects a few to try, however, and has already run across one example of a firm going after a bank “that shocked me.”
Avoiding that reaction may prove to be the trick for firms considering a suit against a bank: Even if standards are loosening, few firms want to be seen as turncoats.
Bingham McCutchen’s Dombroff says he’s confident his firm will stay on the right side of that line. “If we strike the right balance and maintain integrity, I think the marketplace accepts it,” he says.
Jeff Horwitz is a reporter for Legal Times, a Recorder affiliate based in Washington, D.C.
