William Lerach
William Lerach
William "Bill" Shannon Lerachis a disbarred lawyer who specialized in private securities class action lawsuits. The $7.12 billion he obtained as the lead plaintiff's attorney in the case against Enron is currently the largest sum ever recovered in a group of securities class-action lawsuits in U.S. history. In 2007 he pleaded guilty to obstruction of justice and was sentenced to two years imprisonment. In 2009 he was disbarred from practicing law in California. As part of the settlement, Lerach would...
favorable obviously predict side
We can't predict the future, we don't want to try and predict the future, but this development is obviously very favorable for our side of the case.
fact level others reflects settle waited
The settlement reflects the level of involvement from CIBC, and reflects the fact they waited for others to settle before them, and that reflects the settlement amount,
bring clients refused
They wanted to bring us clients for one-third of our fee, and we refused to do that.
billions books books-and-reading cooked dollars employees enron investors lay lost millions thousands top victimized
These books were cooked by Lay and the other top executives, who put hundreds of millions of dollars in their pockets, while the employees of Enron were victimized and hundreds of thousands of other investors lost billions of dollars,
inflate phony
phony partnerships set up to inflate the profits.
billions books books-and-reading cooked direct dollars employees enron executives investors lay lost millions thousands top victimized
Let's be direct here. These books were cooked by Lay and the other top executives who put hundreds of millions of dollars in their pockets, while the employees of Enron were victimized and hundreds of thousands of other investors lost billions of dollars.
books-and-reading cooked janitor
Now who do you think cooked these books? Some janitor or low-level employees?
banks goes message pay sends serious settled settling soon time
It sends a very serious message to those banks that have not yet settled that they better get about settling soon or they are going to pay more and more as time goes by,
maximize recovery whatever
They feel they want to maximize whatever recovery they can.
cross pray
They are going to cross their fingers, sign, and pray for the best,
bad destroy facts however whatever
It's always better to live with whatever the facts are, however bad they are, than destroy the evidence.
matter money successful
Unfortunately, not matter how successful we are, we will never get all of the money back,
effect financial involved
Citigroup was a substantial participant as a financial institution involved in Enron. ... This will have a salutary effect on the others.
cents couple investors passively powerful sit
Why should investors sit passively by and take a couple of cents on a the dollar. This is an extraordinarily powerful tactical weapon.