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November 30, 2007
Tort Lawyers Indicted
by Tina Grazier
I know I shouldn’t be filled with such overwhelming glee, but I admit it…I am! The Wall Street Journal reported today that several of America’s most prominent, and aggressive, tort lawyers have been indicted on charges of conspiracy, fraud and bribery:
Bill Lerach, the king of class actions, stands disgraced as an admitted felon. His former partners at Milberg Weiss face trial for being part of the same kickback scheme as Lerach. Federal prosecutors continue to pursue a criminal probe into asbestos and silicosis litigation fraud.
And now comes the indictment of Mississippi tort legend Richard "Dickie" Scruggs, who is trying to soak insurance companies the way he once did Big Tobacco. *** On Wednesday, Mr. Scruggs and four cohorts were indicted for trying to bribe a state judge in exchange for favorable rulings. *** The alleged conspiracy flows from litigation after Hurricane Katrina. The Scruggs Law Firm established a tort consortium called the Scruggs Katrina Group to shake down the insurance industry for not paying enough in claims, even though most homeowner policies excluded flood damage. Not atypically, a dispute emerged between Mr. Scruggs and one of the group's attorneys, John Griffin Jones, over how to divide the $26.5 million in attorneys' loot from a mass settlement with State Farm Insurance Co. *** According to the indictment, after Jones v. Scruggs moved to court, Mr. Scruggs attempted to buy off presiding circuit court Judge Henry Lackey. Judge Lackey reported the bribery overture and assisted with an FBI investigation. *** If convicted, the Scruggs Five could each face up to 75 years in prison.
Lawsuits “for attorney loot” drive up prices and premiums, tarnish the reputations of companies, diminish legitimate suits, and make a mockery of the judicial system. I hope these indictments discourage others from overreaching and, if found guilty, I hope these men receive some of what they wrought.
Read the entire story, The Trial Bar on Trial, over at WSJOJ.
Posted by Post Scripts at November 30, 2007 09:25 PM
Comments
Ha-ha...
Posted by: Nelson Muntz at December 3, 2007 09:20 AM