A DC-based "legal think tank" called the Washington Legal Foundation has organized a webcast ominously entitled "Trial Lawyers’ Enron: Will Indictments & Investigations Expose Bill Lerach and Milberg Weiss to Shareholder Lawsuits?" The event promises to explore "the latest developments in the criminal probe of the Milberg Weiss law firm" and, among other things, "what legal strategies might be available to shareholders and other parties affected by the class action lawsuits under investigation?"

The WLF website states that one of the goals of its Investor Protection Program is to "encourage regulatory oversight of plaintiffs' bar within securities industry."  The website also includes praise from new SEC Chairman Christopher Cox, who is quoted there as stating that "I am appreciative for WLF's constant effort to combat a subset of lawyers who attack businesses with frivolous lawsuits and outrageous punitive damage awards."

Presumably the lawyers bringing any shareholder lawsuit against Milberg would be WLF-approved lawyers who only file non-frivolous lawsuits seeking non-outrageous punitive damages.