Word: lerach
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...amount of contributions. Liapakis, who learned litigation from personal-injury pioneer Harry Lipsig, describes her plan in terms of civic duty. "This is about educating our members," she says, as if enhanced political power were merely an incidental by-product. She knows better. Last December A.T.L.A. member Bill Lerach, a San Diego securities litigator whose firm has given more than $1 million to Democrats since 1990, had dinner at the White House. Four days later, Clinton vetoed the Securities Litigation Reform Act. But Congress voted to override the veto--a reminder, if Liapakis needed one, that you can't have...
...million salary. In 1988 he and Vajna borrowed $8 million. The terms: if the stock topped $11 by August 1989, the loan would be forgiven. Presto! The stock nipped $11 in June before tubing again (it now trades at $8). "The stock was manipulated," charges shareholder lawyer William Lerach. Carolco disputes the allegation...