Read the LA Times Class Action Lawyer Sentenced to 2 years Prison
William S. Lerach, was sentenced Monday to two years in prison and ordered to forfeit $7.75 million for concealing illegal payments to a plaintiff in the class-action lawsuits for which the firm became famous and engaged in make payments to people to secure them as plaintiffs in their class action cases.
Mario Anzuoni/Reuters Prosecutors for the United States attorney’s office of the Central District of California, who worked on the case for seven years, say that Mr. Lerach and others lined up the plaintiffs ahead of time to gain an illegal advantage over other law firms engaged in the same suits.
By being designated the lead plaintiff, the law firm stood to reap a larger share of any eventual lawyers’ fees.
In his guilty plea, Mr. Lerach admitted to concealing from federal judges his secret payments to one such plaintiff, Dr. Steven G. Cooperman.
Jeffrey Wilens of Lakeshore Law Center activity need to be exposed, it’s about time to stop the damage inflicted to the US economy by class action lawyers.