William "Bill" Shannon Lerach (born March 14, 1946, Ohio River Valley, Midwestern United States) is a fired lawyer specializing in private class action securities lawsuits. The $ 7.12 billion earned him as the primary prosecution attorney in the case against Enron is currently the largest number ever found in a group of class action lawsuits in US history. In 2007 he pleaded guilty to a justice barrier and was sentenced to two years in prison. In 2009 he was fired from legal practice in California. As part of the settlement, Lerach will not cooperate as a witness and his law firm will be protected from further prosecution.
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Lerach was appointed by President Clinton to the US Holocaust Memorial Council in 1998. He is also a figure in ending Joe Camel's advertising and marketing campaign by RJ Reynolds. Lerach succeeded in raising the case in front of the California Supreme Court, stating that R.J. Joe Camel Reynolds Campaign is a fraudulent business practice for targeting minors and encouraging minors and cigarette sellers to break the law.
In 2007, Lerach pleaded guilty to an evasion of justice and began a two-year jail term. He was fired in 2009. Lerach is a big Democratic donor for many years. His case and sentence were presided over by US District Court Judge John F. Walter.
Lerach earned his bachelor and law degree from the University of Pittsburgh. He gave the Beginning of Address May 2003 "American Law: Social Progress Instruments or Weapons of Suppression?" at the Univ of Pittsburgh Law School. The University of Pittsburgh awarded one of Lerach's top honors, designating it the "Legacy Laureate" provided for the most prominent university graduates. He is the main financial donor for Democratic organizations at the state and national levels.
On PBS broadcast on television, Lerach is part of the panel to discuss accounting fraud, corporate faults and securities laws and regulations regarding the program, "NOW with Bill Moyers" on September 27, 2002 and November 21, 2003.
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Cheney and Halliburton
Lerach managed to sue some of the biggest names in American business and sued Halliburton and then CEO Dick Cheney, Vice President of the United States, when he fell out of grace. Lerach has turned his gaze on Halliburton and Cheney, the former CEO. In Lerach's lawsuit against Halliburton, he argues that Cheney had escaped from the company just before the stock collapse, seeking refuge in the White House. The lawyer was in a position to call the court and demanded public testimony from the vice president, and he doubted that Cheney would be able to successfully hide behind the claims of executive privilege.
Guilty plea and prisoning
Before leaving his legal practice in August 2007, Lerach was a partner at a company based in San Diego, Lerach Coughlin Stoia Geller Rudman & amp; Robbins, now known as Robbins Geller Rudman & amp; Dowd. He founded the company in 2004 as a spin-off of Milberg Weiss Bershad Hynes & Lerach; the last firm was later indicted in 2006 for paying bribes to clients in a class securities suit, a scheme in which Lerach would later be suspected of taking part.
According to a June 2007 statement in which he mentioned the ongoing Milberg Weiss investigation, Lerach said he was considering retiring from Lerach Coughlin. On August 31, 2007, Lerach left the company, which first changed its name to Coughlin Stoia Geller Rudman & amp; Robbins and then to Robbins Geller today.
Lerach pleaded guilty to one alleged conspiracy crime for obstruction of justice and made a false statement under oath related to his involvement in Milberg Weiss's bribery scheme. On February 11, 2008, he was sentenced to two years in federal prison, two years probation, a $ 250,000 fine, and ordered to complete 1,000 hours of community service. He was imprisoned at the Federal Correctional Facility, Safford, Arizona. The last two and a half months were spent in a confinement home after performing duties at the Arizona federal prison and halfway house in San Diego. His license for legal practice was suspended in December 2008 and on March 12, 2009, he was sacked by the California State Bar. He was officially released from detention on March 8, 2010. Former partner Milberg Weiss Lerach, Melvyn Weiss, was also sentenced similarly in early June 2008.
In an interview following his release, Lerach offered his thoughts and opinions that the possible political motivations and timing of his indictment could be a probable factor in his prosecution. He also stated that his company's modus operandi generally accepted the legal practice of the primary plaintiff in a class action lawsuit.
The Greedy Circle
In March 2010, a book about Lerach's life and career was published. Circle of Greed: The Spectacular Rise and Fall of the Lawyer That Brings Corporate America to its Knees written by journalists Patrick Dillon and Carl M. Cannon.
References
Source of the article : Wikipedia
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