Securities lawsuits are showing no signs of abating despite the imprisonment of one of the nation's busiest class-action lawyers, while election results might bolster plaintiff cases next year, legal experts warned professional liability underwriters meeting at the recent PLUS conference.
The outlook for class actions was the prime topic during a panel discussion at this month's Professional Liability Underwriting Society International Conference, after attendees viewed a video titled, "The Rise and Fall of William Lerach."
The video featured an interview with Mr. Lerach, taped this past summer, before he began serving a two-year prison sentence. Mr. Lerach pleaded guilty to a federal felony charge relating to illegal kickbacks paid to plaintiffs in securities class actions.
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