In the end, Los Angeles federal Judge John Walter didn't blow up William Lerach's plea deal. Walter did, however, sentence the former securities class action king Monday to two years in jail -- the highest penalty allowed under Lerach's agreement with the government. The conspiracy at Lerach's former firm, Milberg Weiss, to kick back fees to class action name plaintiffs deprived other law firms "who played by the rules" a fair shot at lead counsel in securities cases, Walter said.
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Contrite Lerach Gets Maximum Two-Year Term
The Recorder
February 12, 2008
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