Monday, October 22, 2007
Will Bill Lerach's guilty plea be grounds to terminate pending class actions brought by his former law firm, Coughlin Stoia? Coca-Cola seeks to deny class-action certification in an action alleging accounting fraud that was instituted in 2000 on that ground. A federal judge in another securities fraud class action has already rejected the argument, because Lerach had retired from the firm and the law firm itself is not under indictment -- as is the case with Milberg Weiss. WSJ, Coke Tries New Defense.