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BUSINESS
May 20, 2008 | From Times Wire Services
William S. Lerach, a prominent U.S. class-action lawyer, reported to a low-security prison in California to serve a two-year term after admitting his role in an illegal kickbacks scheme at his former law firm. Lerach, 62, reported to a Federal Correctional Institution in Lompoc.
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ENTERTAINMENT
April 11, 2010 | By Scott Martelle
Circle of Greed The Spectacular Rise and Fall of America's Most Feared and Loathed Lawyer Patrick Dillon and Carl M. Cannon Broadway Books: 516 pp., $28 There was a time, not so long ago, when even the most cold-blooded CEOs could be stopped in their tracks by six little words: "Bill Lerach is on the phone." William S. Lerach was the West Coast partner for the New York law firm Milberg Weiss, which made an art of suing corporations on behalf of stockholders who believed -- often at Milberg Weiss' urging -- that they had lost money because of executives' lies about the rosy condition of their businesses.
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CALIFORNIA | LOCAL
September 30, 1996
Re "Fighting Prop. 211 Becomes Crusade for High-Tech Execs," Sept. 23: I don't own enough stock to blow my nose on, but I do have a personal observation concerning the characters inhabiting this story. Although mefinds them humorous, methinks the corporate dudes have an unusual way of drumming up support. One guy says he'd rather "walk through Sherwood Forest in the 16th century than live in a society" where they take your house away, "whether you're a crook or incompetent." If I remember my Costner, wasn't Robin Hood generally considered to be the good guy (and didn't he live in the 12th century--where do you sign up to be a millionaire)
BUSINESS
May 20, 2008 | From Times Wire Services
William S. Lerach, a prominent U.S. class-action lawyer, reported to a low-security prison in California to serve a two-year term after admitting his role in an illegal kickbacks scheme at his former law firm. Lerach, 62, reported to a Federal Correctional Institution in Lompoc.
BUSINESS
September 21, 2007 | Molly Selvin, Times Staff Writer
Melvyn I. Weiss, a co-founder of a law firm that was among the nation's most successful and respected, was indicted Thursday on charges that he participated in a kickback scheme that allegedly netted millions of dollars in illicit legal fees. The indictment handed down in Los Angeles added to the criminal charges that were leveled against the firm, Milberg Weiss, in an indictment last year.
BUSINESS
April 12, 1992 | From Associated Press
From a British schoolteacher who lost his life savings to a Beverly Hills millionaire who fears he may lose his home, claims are rolling in for the millions forfeited by the Bank of Credit and Commerce International. Gerald Bolton, a Briton living in Qatar, says he had about $100,000 in a savings account at BCCI's home branch in Luxembourg. "This humble petitioner . . . pleads with the court to enable me to retrieve the money I have deposited," Bolton wrote.
BUSINESS
July 3, 1998 | WALTER HAMILTON
It didn't take long for Bill Lerach, the reputed king of class-action securities fraud lawsuits, to target Advanced Fibre Communications. On Tuesday, the Petaluma, Calif.-based telecommunications company warned that its second-quarter earnings would miss estimates because of reduced sales to its main customer and slower business in China. On Wednesday, Advanced Fibre's shares plunged a dramatic 52%. And on Thursday, as the stock fell another $1.19 to $17.94 on Nasdaq, Lerach filed suit.
BUSINESS
June 2, 2007 | Molly Selvin, Times Staff Writer
Adding to speculation that he might soon be indicted, renowned class-action lawyer William Lerach on Friday confirmed reports that he was "considering retirement" from the San Diego firm he founded three years ago. Lerach Coughlin Stoia Geller Rudman & Robbins issued a statement Friday saying that Lerach "is cognizant of the fact that although our firm has never been a target of this or any investigation, the investigation should not become a distraction to our firm."
BUSINESS
February 22, 2006 | E. Scott Reckard, Times Staff Writer
After a five-year investigation, federal prosecutors have told prominent plaintiffs lawyers William S. Lerach and Melvyn Weiss that they do not face charges based on evidence that has emerged so far, a person close to the case said Tuesday. However, the U.S. attorney's office in Los Angeles left open the possibility that other lawyers who worked with Lerach and Weiss could be indicted within weeks, the person said.
NEWS
March 24, 1996 | DAN MORAIN, TIMES STAFF WRITER
Bill Lerach, a frizzy-haired San Diego lawyer, is an inspiration, especially to the people who want to wreck havoc on his career by passing Proposition 201 on Tuesday's ballot. When they hold press conferences, 201's backers invariably refer to Lerach--with a sneer. Executives, especially ones in the Silicon Valley whom Lerach often sues, have called Proposition 201 the "Get Bill Lerach Initiative."
BUSINESS
February 12, 2008 | Molly Selvin, Times Staff Writer
William S. Lerach, once one of the nation's most successful attorneys, was sentenced to two years in prison Monday for his part in a kickback scheme involving class-action lawsuits against some of corporate America's biggest names. The 61-year-old San Diego resident, who had pleaded guilty to one count of conspiracy to obstruct justice and make false statements, also received two years' probation, was fined $250,000 and ordered to complete 1,000 hours of community service. U.S.
BUSINESS
February 11, 2008 | Molly Selvin, Times Staff Writer
As famed class-action lawyer William S. Lerach steps before a federal judge in Los Angeles today to learn his sentence in a wide-ranging fraud and conspiracy probe, his misdeeds and those of former colleagues may be helping to alter the way securities law is practiced.
BUSINESS
November 22, 2007 | From Staff and Wire Reports
The San Diego law firm founded by William S. Lerach, who is awaiting sentencing in a criminal conspiracy case, is asking a judge to approve nearly $700 million in attorney fees for its efforts to help Enron Corp. shareholders and investors recoup billions they lost after the energy company collapsed. If approved, the attorney fees would be the largest in a securities fraud case. Lerach's personal take could be as much as $50 million, according to a report Wednesday in the Wall Street Journal.
BUSINESS
October 30, 2007 | Molly Selvin, Times Staff Writer
William S. Lerach, the securities lawyer whose multibillion-dollar recoveries on behalf of aggrieved shareholders made him a lightning rod, pleaded guilty Monday to a criminal charge that could send him to prison for up to two years. Lerach, 61, entered the plea to one count of conspiracy as part of a deal with federal prosecutors, admitting to obstructing justice and making false statements in connection with a scheme to bribe people to be plaintiffs in class-action lawsuits.
BUSINESS
October 13, 2007 | Ronald D. White, Times Staff Writer
Melvyn I. Weiss, the co-founder of a law firm that was among the nation's most successful in class-action litigation, vowed Friday to clear his name and beat federal charges that he participated in a kickback scheme that allegedly netted millions of dollars in illicit legal fees.
BUSINESS
September 21, 2007 | Molly Selvin, Times Staff Writer
Melvyn I. Weiss, a co-founder of a law firm that was among the nation's most successful and respected, was indicted Thursday on charges that he participated in a kickback scheme that allegedly netted millions of dollars in illicit legal fees. The indictment handed down in Los Angeles added to the criminal charges that were leveled against the firm, Milberg Weiss, in an indictment last year.
BUSINESS
July 23, 2006 | Molly Selvin, Times Staff Writer
These days Bill Lerach is either at the top of his profession -- or on his way to jail. A decade after Congress passed tort-reform legislation written partly to curb Lerach's growing clout against corporations, the class-action shareholder lawsuits he helped pioneer are booming and Lerach has roared back as one of the field's most successful practitioners. He won final approval in May for a $6.6-billion settlement for Enron Corp.
BUSINESS
September 18, 2007 | Molly Selvin, Times Staff Writer
Celebrated securities lawyer William S. Lerach, who recouped billions of dollars for defrauded shareholders and collected billions in legal fees, has agreed to plead guilty to one count of conspiracy in an alleged kickback scheme and could serve as long as two years in prison, people familiar with the situation said Monday.
BUSINESS
August 29, 2007 | Molly Selvin, Times Staff Writer
William S. Lerach, the class-action securities lawyer Wall Street loves to hate, is retiring Friday from the San Diego firm he co-founded to "focus single-mindedly" on resolving questions about his role in an alleged kickback scheme operated by the law firm where he made his name. Lerach hasn't been charged in the fraud and conspiracy case that federal prosecutors built against Milberg Weiss Bershad & Schulman and that is set for trial in Los Angeles next year.
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