Pittsburgh-based Reed Smith, which has 150 lawyers in Philadelphia, is in early merger discussions with Dallas-based law firm Thompson & Knight, both firms confirmed Friday to the Pittsburgh Business Times.

"We are in preliminary merger discussions with Texas-based Thompson & Knight," said Reed Smith Managing Partner Greg Jordan in an e-mail. “The discussions are preliminary and no final agreement or partner vote has been reached or taken.”

Reed Smith has more than 1,500 lawyers, while Thompson & Knight has about 350 lawyers with a focus on the energy industry, including oil and gas, Jordan said.

Becky Jackson, chief client services officer at Thompson & Knight, offered the following statement in an e-mail:

“In today’s legal environment, Thompson & Knight’s historical presence in Texas and our outstanding energy expertise are sought after by firms. For several years, we have regularly received inquiries regarding possible mergers. We have had preliminary conversations with Reed Smith, and they are obviously a great firm, but it is premature to characterize these discussions in any detail.”

Under Jordan’s decade-long tenure, Reed Smith has grown from a Pittsburgh-centric 500-lawyer firm to an international firm three times the size through a series of major mergers and acquisitions. In 2001, the firm acquired 60-lawyer Warner Cranston of London. In January 2003, it acquired California’s 220-lawyer Crosby Heafey Roach & May. In 2007, the firm merged London’s 250-lawyer Richards Butler and 140-lawyer Sachnoff & Weaver of Chicago. And in January 2008, Reed Smith acquired 110-lawyer Richards Butler Hong Kong and 55 lawyers from New York’s Anderson Kill & Olick.

For more than 20 years, William S. Lerach was the most feared lawyer in America. He and his former firm, Milberg Weiss, were Jedi masters of security law, targeting Fortune 500 companies for corporate fraud and recovering a staggering $45 billion in judgments.

Tough and relentless, plaintiffs saw him as a savior, successfully suing WorldCom, Tyco, Disney,Merrill Lynch and Enron, among others. Lerach brought down high-flying CEOs and companies that routinely cooked the books to keep executives rich and shareholders broke. Famous for his class-action suits and novel legal tactics, he was the scourge of big business, forcing many companies, terrified of being “Lerached,” to settle out of court rather than fight.

In January 2008, he pleaded guilty to conspiracy to obstruct justice, admitting he paid a few regular plaintiffs millions in kickbacks to instigate cases that netted the firm some $200 million over two decades. (No plaintiff can benefit more than others in class-action suits.) He was fined nearly $8 million and sentenced to two years in prison.  He was just released in March 2010.
Lerach was famous for tracking stock prices — charting fluctuations against optimistic statements and insider selling — before a stock crashed. If company chiefs cashed in while investors lost their savings, Lerach smelled blood. If public investments were fueled by false claims, the charge was “fraud on the market.” Plus, any investment bank and Big 8 accounting firm that aided and abetted the principles were charged as secondary participants, unleashing a legal juggernaut.

Bill talks about himself,   the legal profession, and  his contributions on behalf of investors everywhere.
If there was ever a modern Greek tragedy about a man and his times, about corporate arrogance and illusions and the scorched-earth tactics to not only counteract corporate America but to beat it at its own game, Bill Lerach's story is it. 

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http://metrolinkcomesclean.blogspot.com/

http://metrolinkclassaction.blogspot.com/

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• Drunk Driving (DUII, DUI, DWI) - including underage drinking and driving, refusing a breathalyzer test, driving under the influence of drugs or alcohol, and other drug or alcohol related driving offenses
• Criminal Driving Offenses - including manslaughter, criminally negligent homicide, assault, hit & run, attempting to elude police, reckless driving and licensure issues
• Drug Crimes - including possession, delivery, and manufacturing of marijuana, cocaine, methamphetamine, heroin, designer drugs and prescription drugs
• Property Crimes - including theft, embezzlement, forgery, fraud, computer crimes and burglary
• Violent Crimes - including menacing, stalking and assault
• Stalking - including criminal offenses and civil actions