Curlin's ownership saga

[Pedigree Ann]

Originally Posted by justindew

I have not followed this case. Does anyone know, in laymans terms, what these guys are alleged to have done? I know they are accused of taking money from their clients, but does anyone know how a lawyer would go about doing that in the first place?

The fen-phen drug companies and the lawyers came to an agreement, whereby the lawyers would get a certain amount and the clients a certain amount. But the lawyers breached the contract by withholding a large fraction of what should have gone to the clients and set up a 'health fund', of which they would be the sole trustees. More or less.