The Deal
Saturday, November 7, 
1:49 pm

The King of Torts passes away

  Share     E-Mail    Discussion (1)     Print Story
Fred_Baron.jpgFred Baron, the Texas trial lawyer best known for spearheading the toxic tort litigation movement on behalf of thousands of asbestos-exposed plaintiffs, died from cancer on Oct. 30. The legendary attorney, a founder of Dallas-based law firm Baron & Bud PC, died of a multiple myeloma just weeks after gaining authorization to use Tysabri -- a drug used to treat multiple sclerosis and Crohn's disease, and a possible drug treatment for his ailment.

Continue reading below

Also on Dealscape

Baron's career in tort litigation began in the 1970s, and he won the moniker the "King of Torts" for his successful if controversial pursuit of awards from big corporations like Halliburton Co. and now-bankrupt W.R. Grace & Co. Most recently he gained some renown for his involvement in the cover-up of disgraced former U.S. Sen. John Edward's extramarital affair with video producer Rielle Hunter. Baron served as Edward's campaign finance chairman in the senator's 2004 vice presidential bid.

Now, as plaintiff and consumer groups begin a major push to roll back limitations on personal-injury and class-action lawsuits, Baron's legacy in toxic tort litigation could further flourish. Democratic wins this Tuesday in both the Oval Office and Congress could put these lobby groups, which raised $137 million for Democratic candidates in 2004, in a better position to have their issues heard.

But even before the Edwards donnybrook, Baron didn't ingratiate himself with those who feel mass tort litigation just lines the pockets of plaintiff attorneys.

"Fred Baron was an innovator with respect to mass litigation," a spokesperson for the American Tort Reform Association told The Wall Street Journal law blog. "Whether that's a good thing, history will have to decide." - Carolyn Okomo





Comments

From: Patricia,

Tort enables many working and middle-class Americans to have access to a legal system they would not have had otherwise. You want a country without tort? Go to Mexico, where the likes of Cemex, Bimbo and Modelo treat Mexican citizens FAR worse than they do US customers. What impact has the absence of tort had on the Mexican economy? Over the past 26 years, its GDP/capita has grown at an annual clip of less than 1%.


Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Linklaters' Schmidt says how regulators handled Pfizer Inc.'s acquisition of Wyeth is an outlier of how others merger reviews will be conducted.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Dealing with frozen bank lending

If your bank is not willing to lend, what can you do as your company continues to seek growth?


Judgment Call

The coming age of the renminbi

The Chinese currency will play an increasingly important role in international commerce and finance.


Industry Insight

Banking on PE investments

Howls of protest greeted the FDIC policy statement, but the financial services industry should get over it.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.