Interesting article in the National Law Journal:  Sidley Could Face $100M Liability in Opt-Outs; With Many Tax Case Plaintiffs Refusing to Settle, Firm’s Share of Liability Costs Could Hit Nine-Figure Mark, Says Attorney, by Amanda Bronstad:

Sidley Austin is expected to pay $30 million to settle a class action next month filed by more than 200 investors who lost money on illegal tax shelters that the law firm approved. But the nation’s seventh-largest firm isn’t out of the woods yet. Investors in about 55 cases have opted out of the class action settlement, which includes claims against KPMG LLP, the accounting firm that sold the shelters. The shelters are now the subject of a federal criminal investigation. Lawyers representing those opt-outs say KPMG and Sidley Austin could end up paying hundreds of millions of dollars in separate settlements with their clients.