Lawmakers Urge Probe Into Lerach Kickback Claims

Law360, New York (May 2, 2008, 12:00 AM EDT) -- Two Republican congressmen have called for a judicial hearing into claims by disgraced trial attorney William Lerach that the multimillion-dollar kickback scam at his founding firm was commonplace among class action lawyers.

In a letter to the House of Representatives Judiciary Committee Friday, Reps. John Boehner (R-Ohio) and Lamar Smith (R-Texas) called for a hearing later this month into allegations Lerach made to the Wall Street Journal that paying clients to serve as lead plaintiffs in securities suits was “industry practice.”

Lerach is waiting to serve...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.