Legal News

Encyclopedia-Reading Bill Lerach to Teach at Irvine?

By Ashby Jones

In addition to the proximity to nice beaches, the free tuition (at least for the first class), and a whole lotta buzz, here’s one more thing the University of California, Irvine might soon be offering: Bill Lerach.

That’s right: the famed, wealthy, disgraced and recently jailed plaintiffs’ lawyer just may be brought on board to teach an upper-level course in 2011. Click here for the National Law Journal story. UCI Law confirmed that it was “considering having” Lerach teach a course.

Lerach told the San Diego Union-Tribune last weekend that he is developing a course called “Regulation of Free Market Capitalism - Why Have We Failed?” He said he hopes to “participate in the ongoing debate about the need for better and more effective financial regulation and protection of investors.”

Lerach was released from a two-year prison sentence on March 8. He still must complete 1,000 hours of community service and is scheduled to remain under supervised release for two years. He pleaded guilty in 2007 to one count of conspiracy stemming from allegations that he paid kickbacks to lead plaintiffs in securities class actions.

Some other enlightening tidbits from the San Diego Union Tribune piece:

On combating prison boredom, Lerach said:

To occupy myself, I wrote a detailed newsletter sent out to about 250 friends describing my daily experiences. To my surprise, it was much enjoyed by all - certainly more than I enjoyed the actual experience. I also spent a lot of time reading, even reading large parts of the Encyclopaedia Britannica. Pretty much I made good use of my time and didn't suffer from boredom - more loneliness from missing my family, my dogs and my friends.

On the sunny-side of a prison stint:

It forced me to get off a very fast-moving treadmill on which I probably would have continued indefinitely. These events have given me an opportunity to take my life in a new and, I hope, fulfilling direction.

On community service:

I'm doing several things, including working with an organization for disabled veterans, a German shepherd adoption program, and I hope that my work with law school teaching will be treated as community service.

Full post as published by Law Blog - WSJ.com on April 13, 2010 (boomark / email).