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Plaintiffs' attorneys in class action and derivative suits occupy an uneasy place in the American legal system. The traditional image of the lawyer is of an independent professional providing advice and advocacy on behalf of a client. The attorney, in this view, is an agent of the client and subject to the client's control in all important matters. Plaintiffs' class action and derivative attorneys do not fit this mold. They are subject to only minimal monitoring by their ostensible "clients," who are either dispersed and disorganized (in the case of class action litigation) or under the control of hostile forces (in the case of derivative litigation). Accordingly, plaintiffs' class and derivative attorneys function essentially as entrepreneurs who bear a substantial amount of the litigation risk and exercise nearly plenary control over all important decisions in the lawsuit.

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