According to an irate federal judge, jailed plaintiffs lawyer William Lerach just helped his former colleagues lose about $45 million in fees. Yet the judge still awarded Coughlin Stoia $65 million for its work on a class action against UnitedHealth Group. Approving a $925 million settlement against UnitedHealth in possibly the largest backdating securities class action payout ever struck, U.S. District Judge James Rosenbaum said Lerach neglected to inform the court of his role in the Milberg Weiss debacle.
Lerach Costs Former Firm $45 Million in Fees
August 12, 2009