Rep. Barney Frank, D-Mass., is misguided in his attempts to portray himself as a shareholder advocate, according to a Wall Street Journal editorial. Frank will hold hearings examining a proposal to let shareholders settle claims against companies through arbitration instead of class-action lawsuits. "Mr. Frank has cast himself as the defender of shareholder rights -- a peculiar notion in this context. In shareholder lawsuits, any verdict or settlement against a company ends up coming out of the pockets of shareholders," the newspaper wrote.
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