William S. Lerach, one of the most famous litigators in America has called it a day. It has been reported by Fortune magazine that Lerach, the plantiff attorney most famous for representing shareholders of Enron and the mind who launched a thousand class action lawsuits is planning to leave the namesake firm he founded only three years ago.

Lerach made is name with Milberg Weiss, another lawfirm famous for its work on behalf of aggrieved investors. What happens next for Lerach is anyone's guess - he has yet to even formerly announce his departure but speculation regarding his fate has already begun. Thusfar Lerach has remained largely untouched by the kickback scandal that has engulfed his former colleagues at Milberg Weiss.

Whether that will remain the case is no certain thing. News that indicted former Milberg partner David Bershad is considering a settlement with federal investigators that would include a guilty plea in exchange for his cooperation does not exactly bode well for Lerach. He is certainly a big fish and federal prosecutors have spent most of the last decade trying to catch him at dirty pool.

Lerach, for his part, has long insisted that prosecutors persistent interest in him is based on politics, not perfidy...

-- MDT

Labels: Bill Lerach, David Bershad, kickbacks, Melvyn Weiss, Milberg Weiss