Legal News

Between Lerach and a hard place

By Jason Siegel

Federal prosecutors say securities plaintiffs' lawyer William Lerach should serve two years in prison in the Milberg Weiss case, contesting a pre-sentencing report's recommendation of 15 months in prison, The National Law Journal reports.

Lerach, a former Milberg Weiss partner, will be sentenced on Feb. 11 on one count of federal conspiracy. A  government probe allre alleges the firm obtained $250 million in attorney fees by paying plaintiffs in over 150 class action and shareholder lawsuits.

Lerach agreed serve 1-2 years in prison, forfeit $7.75 million and pay a $250,000 fine in a plea deal reached in October.

Prosecutors said a 15 month sentence would fail to deter other attorneys from committing similar acts, arguing that a 24 month sentence would. They also counter the pre-sentencing reports assertion that Lerach didn't commit any overt acts after 2002, noting that there's no evidence that he withdrew from the conspiracy while remaining a partner in the firm until 2004.

"U.S. Prosecutors seek two-year prison term for Lerach," Reuters

Full post as published by Legal Pad | LA on January 30, 2008 (boomark / email).