Word: lerach
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...that sell annuities within tax-deferred, retirement accounts such as 401(k)s or IRAs aren't offering added value, just added profits. Bring on the lawyers. Insurance companies "shouldn't be marketing deferred annuities for placement in retirement plans," says Michael Spencer, partner at Milberg Weiss Bershad Hynes & Lerach, which has filed class actions against four big annuity sellers. "The consumer ends up paying substantially higher fees than if they bought a nonannuity investment...
...quarter of the nation's securities-fraud suits are brought against California-based firms. One target was Centigram Communications Corp. of San Jose, which was sued after its stock dropped from $14 to $11 in late 1994. Lerach accused company officials of dumping stock nine months earlier. Although a judge threw out all but one charge, Centigram decided, after nearly a year of fighting, to settle for $1.5 million, a typical corporate approach. "We did an economic analysis," says president and CEO George Sollman. "I calculated that going into court and trying this would cost us between...
...Diego attorney William Lerach, who together with his firm has given nearly $5.3 million to the "Yes on 211" campaign, argues that the Private Securities Litigation Reform Act of 1995 made it more difficult for investors to sue and that investors need better protection from corporate abuse. "There's an epidemic of fraud against senior citizens, retirement savings, 401(k)s and IRAs, and unless stronger remedies are given to victims of that kind of fraud, it will get worse," he says. "It's time to stamp...
...battle over Proposition 211 is already the most expensive ballot initiative in history. Nearly $46 million has been spent so far, the bulk coming from opponents, including the Big Six accounting firms and high-tech firms from Apple to Xilinx. The Yes on 211 side is being funded by Lerach's firm and dozens of other law firms, from New York to California. The out-of-state interest resides in the fact that under the measure companies with even one California shareholder could be sued and tried in California...
Your story included a graphic illustration indicating that President Clinton vetoed the securities-litigation reform bill "four days after his White House dinner with trial-lawyer honcho Bill Lerach." To set the record straight, the dinner was a White House Christmas party attended by more than 250 people. My contact with the President was limited to 30 seconds of social chitchat. I did not discuss the legislation with him that night. In fact, I have never discussed it personally with the President. WILLIAM S. LERACH San Diego...