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Lerach's involuntary client



Speaking of Lerach, his firm was recently fired by its client, the lead plaintiff in a securities suit against Halliburton; the former client wishes to hire Boies Schiller, but Lerach Coughlin is refusing to withdraw, demonstrating precisely the disregard so many class action attorneys have for their putative clients. Speaking of which:

Lerach got involved in the case in 2005 after three other law firms withdrew amid fierce criticism of a $6 million settlement they negotiated without consulting the AMS Fund, which was supposedly in control of the litigation. The law firms would have received more than half the proceeds in fees, while an investor with 100 shares would have received as little as 62 cents.

(Daniel Fisher, "Battle Of The Class-Action Titans", Forbes, Nov. 28).

 

 


Rafael Mangual
Project Manager,
Legal Policy
rmangual@manhattan-institute.org

Katherine Lazarski
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.