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In-House Lawyers Go for All or Nothing in Securities Case
When JDS Uniphase and its outside counsel at Morrison & Foerster decided to go to trial in a securities class action that claimed management chicanery in the drop in JDSU shares during the dot-com bust, it raised eyebrows. Few companies like to trust their fate to jurors in high-stakes securities cases, and the plaintiffs were seeking $20 billion in damages from a company with a $3 billion market cap. As the JDSU lawyers waited for the verdict, GC Matthew Fawcett recalls, "I'd say we were tense."