Indeed, the class action has been so successful that now big business probably spends as much time fighting on second-level issues, seeking to restrict the availiability of the class action, to enact new federal laws to preempt many of the state laws that serve as the basis for some class actions, to cap damage awards, get conservative judges appointed, etc., as it does fighting against regulation itself. (Caveat–I supported many of the provisions of the Class Action Fairness Act, which gave the federal courts jursidiction to hear many class actions that a technicality had previously prohibited them from hearing).
So let’s not throw the baby out with the bathwater.
TedF
Please share widely!
…the charge that he specifically pleaded guilty to? I may have a comment, but I don’t know what the charge was.
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TIA
No. Someone who knows about the case correct me if I'm wrong, but I don't think he's been indicted. At least I couldn't find an indictment on the U.S. courts' online database.
The way this works, I think, is that the parties agree to a deal, the U.S. Attorney files an “information,” which sets out the facts alleged, and Lerach admits the facts at his plea hearing. We'll know the details when all this occurs. The New York Times has some details of the allegations here.
TedF