Lerach Coughlin Stoia Geller Rudman & Robbins LLP Announces Retirement of William S. Lerach

SAN DIEGO, CA -- Completing a previously announced transition, renowned plaintiffs lawyer William S. Lerach is retiring from the law firm of Lerach Coughlin Stoia Geller Rudman & Robbins LLP, which will be named Coughlin Stoia Geller Rudman & Robbins LLP as of August 31st.

The firm’s partners and co-founders expressed their confidence in the firm’s shareholder and consumer advocacy. "Since its founding in 2004, our firm has grown to more than 180 attorneys, including dozens of former federal prosecutors, SEC attorneys, state prosecutors, and a former federal judge," said Patrick Coughlin, partner and co-founder of the firm. "We will not pause in our ongoing advocacy for shareholders and consumers." Partner and firm co-founder Darren Robbins added, "We are pleased that Coughlin Stoia Geller Rudman & Robbins LLP continues to be the go-to law firm for institutional investors seeking to hold corporate wrongdoers accountable."

For the past seven years, Lerach’s name has been associated with an ongoing investigation by the United States Attorney’s Office into allegations of improper payments to clients by the Milberg Weiss law firm. Lerach noted that stepping aside from the daily practice of law will allow him to focus his time and energy on this matter, and allow the firm to move forward with its work.

"I have appreciated the opportunity to fight for the victims of corporate fraud; however, I realize that my success has made me a target," said Lerach. "These allegations have proven to be personally time-consuming, and I have decided to focus single-mindedly on putting the matter behind me once and for all."

Since its founding three years ago, the law firm has grown by over 40%, adding more than 50 lawyers, including former federal prosecutors and a retired federal judge, expanded to 9 offices, and grown its client list to include 500 institutional investors – more than any other firm in the country. Patrick Coughlin, John Stoia, Darren Robbins, Mike Dowd, Helen Hodges, and Keith Park will continue to manage the firm's three West Coast offices and the firm's Houston office, while Paul Geller and Sam Rudman will continue managing the firm’s East Coast operations.

About Coughlin Stoia Geller Rudman & Robbins LLP

  • The firm is ranked as the number one securities firm, having recovered billions for clients and been appointed as lead counsel in nearly 150 cases since its founding 3 years ago.

  • In 2006, the firm was the top-ranked class action firm – both in aggregate amount of dollars recovered and number of recoveries secured – according to a report by Institutional Shareholder Services. Cornerstone Research also ranked the firm at the top of its list for representing 31 percent of all plaintiffs in settled securities cases for 2006.

  • The firm’s lawyers have been responsible for recovering more than $45 billion on behalf of clients – including an unprecedented $7.2 billion for the victims of the Enron fraud. The firm’s attorneys have been involved in 60% of the top 25 recoveries in US history.

  • The firm is one of the leading firms appointed as lead counsel on behalf of consumers in numerous insurance, consumer and antitrust matters.

  • The firm represents more institutional investors as plaintiffs in securities and corporate litigations – public and multi-employer funds – than any other firm in the United States.

  • The firm has more than 180 attorneys, including dozens of former federal prosecutors, SEC attorneys, state prosecutors, and a former federal judge. The firm has offices in San Diego, San Francisco, Los Angeles, Boca Raton, Houston, Philadelphia, Washington, DC, and two offices in New York.