Securities Fraud Class Action Plaintiff Lawyer William Lerach Reportedly Agrees to Plead Guilty to Conspiracy in Paying Kickbacks to Class Representative
On the heels of our report that William Lerach announced his resignation in order to focus his energies on defending himself against the as-then unannounced criminal charges leveled against him in the wake of the federal court indictment of Milberg Weiss and two of its named partners, Molly Selvin reports today that Lerach that agreed to plead guilty to one count of conspiracy. According to Ms. Selvin’s sources, Lerach faces up to two years in prison and “will pay a fine of several million dollars under the terms of the deal.” However, Lerach reportedly “refused to cooperate with the government in its case against Milberg Weiss.” Barry Meier of the New York Times reports that neither Lerach nor his defense attorney, John Keker, returned telephone calls, and that the U.S. Attorney’s Offices declined to comment on the purported guilty plea.
Molly Selvin’s article entitled, “Top class-action lawyer may plead guilty in kickbacks,” may be found in the Business Section of the September 18, 2007 edition of the Los Angeles Times.
Mr. Meier’s article entitled, “Guilty Plea Is Expected In Kickbacks At Law Firm,” may be found in Section C. of the September 18, 2007 edition of the New York Times.