Posted on 09/21/2007 10:40:28 AM PDT by SmithL
FOR YEARS, few things terrified a Silicon Valley executive more than trial lawyer Bill Lerach. "Being Lerached" meant a courtroom showdown with the wily, ferocious lawyer, who usually extracted fat settlements from companies accused of stock manipulations.
He moved mountains, collecting $7 billion for Enron shareholders. His law firm had a lineup of clients that included the UC Board of Regents and public pension funds in New York and Ohio. When a high-flying stock fell to earth, he was the go-to guy that investors used to get even. Companies caved, knowing insurance would cover much of it.
Except his methods were built on a lie, which he now admits in a plea deal that will cost him $8 million in fines and payments plus a year in jail. He paid plaintiffs kickbacks from huge settlements in order to be the lead - and best paid - lawyer in the scores of class-action suits he filed over the last 20 years.
(Excerpt) Read more at sfgate.com ...
now some of the companies should sue him to collect on his assets.
And Hillary and the Dems should return his $1M+ in donations.
Oh Yea!!
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