Skip Links

Network World

Brad Reese

$92 million Cisco legal fraud exposed in racketeering conviction of two lawyers

By Brad Reese on Mon, 04/14/08 - 7:06pm.
Newsletter Signup

Back on August 18th 2006, Cisco announced an agreement to resolve the consolidated shareholder class-action lawsuit that was filed against it in 2001.

Under the terms of the settlement, liability insurers for Cisco and its directors and officers payed $91.75 million to the plaintiffs.

Recently, the two lead lawyers for the plaintiffs in the Cisco suit, Bill Lerach and Mel Weiss, pled guilty to racketeering as part of a 25-year scheme to pay kickbacks to class-action plaintiffs.

Bill Lerach"I pled guilty in this case because I was guilty. I knew what I was doing was wrong," said 61-year-old Bill Lerach who terrorized America’s corporate boardrooms for over 25 years.

"It was, as they say, felony stupid."

He also apologized to his family, his former law firm and "to the legal system I’ve abused."

Lerach who was sentenced to two years in prison and fined $8 million, will also be on supervised release for two years and must complete 1,000 hours of community service.


Mel Weiss72-year-old Melvyn Weiss was sentenced to a 33-month prison term and will pay $10 million to the government.

Weiss, who had defiantly protested his innocence, issued a statement of apology for the "wrongdoing," saying "I deeply regret my conduct."

Weiss pled guilty to racketeering as part of a 25-year scheme to pay kickbacks to class-action plaintiffs.


Hopefully, lawyers involved in patent trolling and pirating will take notice of the racketeering convictions of these two scoundrels!

Contact Brad Reese
http://www.BradReese.Com

Brad's Top 5 Story Picks
# 1. 3Com and Cisco dumb and dumber?
# 2. Target of 30 patent infringement suits last year, Cisco patent reform effort stalls in Senate
# 3. Cisco board director Jerry Yang surrounded by bashful executive team
# 4. Cisco talent shortage balderdash!
# 5. Cisco gets help in H-1B visa crisis from Department of Homeland Security
Story Archives Brad Reese on Cisco Story Archives

Cisco Power Supplies

Cisco Authorized Factory Refurbished List Pricing

Cisco Repair and Hardware Troubleshooting

  

Welcome, visitor. Register Log in
About Brad Reese on Cisco

Brad Reese cofounded BradReese.Com Cisco Refurbished, which enables affordable networks globally by assuring customer satisfaction with guaranteed one year warranties on both Cisco Repair as well as Refurbished Cisco.

Don't be shy, contact Brad Reese online or call him Toll Free:

866-864-0506

International callers may wish to call Brad by dialing:

850-364-4115

Archives
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
Categories
America's Best profile written by Useem regarding Chambers' success
Avian Securities Senior Telecom Research Analyst - Catharine Trebnick
Breakingviews.com correspondent - Robert Cyran
CCIE
Careers
Charlie Giancarlo - Managing Director of Silver Lake Partners and Skype investor
Cisco
Cisco ASR 9000 architecture
Cisco ISR G2 Module Support
Cisco Integrated Services Router Generation 2 (ISR G2) Model Comparison
Cisco Integrated Services Routers Generation 2 Portfolio
Cisco Unified Communications Support for Microsoft Windows 7
Cisco is pushing their ASR 9000 at very competitive prices
Cisco is warning Unified Communications customers about NOT successfully offering support for Microsoft Windows 7
Cisco technical star Jonathan Rosenberg
Cisco will have no liability for any delay in delivery
Daniel Berg - Skype's CTO
Data Center
Douglas Smith - Cofounder and President of Network Instruments
Expand visibility of NetFlow-dependent NBAD and compliance applications
Father of SIP - Jonathan Rosenberg
GigaStor captures and converts packets in NetFlow data flows
Index Venture partner Danny Rimer
Jonathan Rosenberg - a Cisco Fellow in Cisco's Voice Technology Group
Juniper MX960 lab test results
LANs / WANs
Mark Roberts - Polycom vice president of partner marketing
Michael Useem - Professor of Management
Microsoft
NetFlow
NetFlow add-ons
NetFlow overhead can overtax infrastructure
Network Behavior Anomaly Detection (NBAD)
Network Management
Non-NetFlow capable devices are blind to local traffic
Produce NetFlow about any device
Rosenberg is now Skype's Chief Technology Strategist
SMB
Security
Selection committee member for America's Best Leaders
September 2009 vs. October 2009 Worldwide CCIE Count Comparison
Silver Lake Managing Director - Egon Durban
Skills and abilities of Skype CTO Daniel Berg
Skype announced Roseberg jumped ship from Cisco
Skype's Chief Technology Strategist - responsible for Skype's overall architecture and technology strategy
Skype's cofounders Niklas Zennstrom and Janus Friis
Software
The Charlie angle is to keep Dave Roux on track
The new Cisco ISR G2 portfolio is priced as follows
VoIP / Convergence
What are the benefits of GigaStor NetFlow Agent?
What’s new on the Cisco ISR G2 models vs. the old ISR models?
Windows 7
Windows 7 just not worth an all-out urgent effort by Cisco to support
Wireless / Mobile
eBay CEO - John Donahoe
sFlow
sFlow and NetFlow provides extended visibility
On The Web
Twitter