You know this joke about lawyers - it’s the 98 percent that make it hard for the rest of them.

Well, recent headlines about Wyeth’s fen-phen diet pill settlement are lending credence to a long-standing complaint by the drugmaker: attempts to resolve its legal nightmare were stymied by a few lawyers who allegedly put their own interests ahead of their clients.

For instance, a Kentucky grand jury is investigating potential criminal wrongdoing in which lawyers allegedly bullied clients into accepting lower settlement amounts than expected and keeping larger shares for themselves. The lawyers reportedly deny the charges.

Then, a New York state court judge yesterday ordered a trial to determine whether a law firm that negotiated with Wyeth on behalf numerous clients violated ethical rules by distributing the proceeds in a way that inflated the firm’s share of the funds. And the firm denies the charges.

Product liability is supposed to play a useful role in society by discouraging bad behavior. But if the allegations against the lawyers are proven true, drug company execs will find it easier to argue that the growing number of lawsuits serve only one purpose - enriching greedy lawyers.

The pharmaceutical industry is regularly told to behave better. Lawyers should, too.

Further reading….
The New York Law Journal;
The New York Times (registration required).

[tags]Diet Pills, Fen-Phen, Lawyers, Wyeth[/tags]