Oakland, CA (PRWEB) January 4, 2007
Truth in Corporate Justice LLC (“TCJ”) (http://www.worldwidetree.org) issues this press release to advise shareholders and the concerned public that the Archdiocese of Milwaukee Supporting Fund, Inc. (“AMS Fund”), Lead Plaintiff in the Halliburton Securities Litigation matter, is seeking to substitute lead counsel. This case is entitled: Archdiocese of Milwaukee Supporting Fund, Inc., et al. v. Halliburton Company, et al. (Master Docket No. 3:02-CV-1152-M), a consolidated class action pending in the Northern District of Texas before U.S. District Judge Barbara M.G. Lynn.
On December 27, 2006, AMS Fund filed its Reply Brief on its Motion to Substitute Counsel. The brief cites numerous reasons for AMS Fund’s request to remove the firms of Scott + Scott and Lerach, Coughlin, Stoia, Geller, Rudman & Robbins as lead counsel in this matter. Truth in Corporate Justice LLC’s founder, Neil Rothstein (a former Scott + Scott partner), Special Counsel to the AMS Fund, stated that this is an unfortunate but necessary change that was unexpected at the time Mr. Lerach’s firm first intervened in this case.
Some of the most important reasons for the change in counsel request, as stated in the Reply Brief filed on December 27, 2006, are the failure of lead counsel to keep AMS Fund fully informed about the status of the case in violation of Pre-trial Order Number Two. Next, according to the Reply Brief, there exists a potentially negative impact on the litigation as a result of the proliferation of media attention surrounding William S. Lerach, which could possibly shift the focus from the merits of the case and turn it into a convoluted battle between Lerach and the government. The conflict: an attorney under federal investigation is representing a lead plaintiff who has brought a lawsuit against a sitting vice president’s former company where he was Chief Executive Officer. The Vice President is not a defendant in this action. The Reply Brief also states that the Department of Justice’s ongoing criminal investigation of Lerach and his former firm, Milberg, Weiss, Bershad, Hynes & Lerach, which has led to the indictment of two of Lerach’s former partners and his predecessor firm, has brought to light facts not disclosed to the Court or Lead Plaintiff (as summarized in the Fortune.com article published recently available at http://money.cnn.com/blogs/legalpad).
The AMS Fund is requesting the court to substitute the firm of Boies, Schiller & Flexner as lead counsel. The Court has not yet ruled on the motion. Neil Rothstein, founder of TCJ, says that it is unfortunate that another change in counsel is necessary at this time; however, the amount of information that the current lead counsel hid from the Lead Plaintiff clearly does not comport with what is in the best interest of the client or the class. “While the Lead Plaintiff sought to have this transition occur with the dignities of those involved remaining intact, the realities amount to far more than the loss of dignity,” stated Rothstein. “This is not about guilt or innocence; it is about the appearance of impropriety, conflicts of interest, and ethical behavior.”
To read more about this situation, please visit http://www.halliburtonsecuritieslitigation.com
Truth in Corporate Justice LLC can be reached at 800/610-4998.
Mr. Rothstein can also be reached at 619/251-0887.
ABOUT TRUTH IN CORPORATE JUSTICE LLC
Truth in Corporate Justice LLC (http://www.worldwidetree.org) is a limited liability company under the umbrella of the Worldwide Tree Group that scrutinizes, supports, and endorses law firms that adhere to and are dedicated to the highest ethical, competency and zealous advocacy in order to maintain integrity in our legal system. It has started the practice of “L.E.O.” or Litigation Ethics Oversight. The group consists of TCJ, the Global Governance Center LLC, and Class in Action LLP—WTG’s law center. Additionally, the Group will begin growing its unique Worldwide Tree Multimedia LLC. You may contact Truth in Corporate Justice LLC at (310) 246-1170 or (800) 610-4998 or Neil Rothstein directly at (619) 251-0887. TCJ is a limited liability company that will scrutinize, support, and endorse those law firms that adhere to TCJ’s ethical and competency standards in order to maintain the integrity of the legal system within the United States. TCJ seeks to empower anyone facing problems in our ever-changing world through education, access, guidance, networking, representation, and more.
TCJ also sponsors the website http://www.halliburtonsecuritieslitigation.com which is dedicated to updating the public on the ongoing securities litigation against Halliburton Corporation. Mr. Rothstein currently serves as Special Counsel to the Lead Plaintiff in the landmark case where it was proven that one lone voice can make a difference.
The Worldwide Tree Group is non-partisan with no political, religious or other affiliation except to bring together differing philosophies, views and backgrounds in order to find solutions to the many critical challenges that people are facing today. Any organization or person may join and take part in the offerings of the various companies within the WTG except those who or which supports or advocates violence or terrorism.
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