Posted by Tina Grazier
William Lerach gets two years in prison, by Molly Selvin, Los Angeles Times
William S. Lerach, one of the nation’s most successful attorneys, was sentenced to two years in prison today for his part in a lucrative kickback scheme involving class-action lawsuits targeting dozens of the nation’s biggest corporations. ** U.S. District Judge John Walter also sentenced the 61-year-old San Diego resident to two years’ probation, fined him $250,000 and ordered him to complete 1,000 hours of community service. ** Authorities said the New York law firm where Lerach practiced for 28 yearsmade an estimated $250 million in fees over two decades by filing class actions on behalf of ready-made plaintiffs who received kickbacks. ** Government lawyers allege that the firm paid $11.3 million in kickbacks to shareholders and consumers who became plaintiffs in lawsuits targeting companies such as AT&T, Microsoft, WorldCom and Lucent, prosecutors allege.