point given
08-03-2007, 06:18 PM
How about $62 million reasons to cry about owing their law clients of the fen phen drug case they won but bilked their clients. I wonder if they will be attending the Haskell stakes at Monmouth on Sundayto watch their partly owned Curlin (having sold him for $7 mil) ? I might have a few words for them in the paddock. :D Guess they can't wait for Curlin to start his breeding career. Padua recently announced they are moving to Kentucky too.
" Special Judge William Wehr ordered William J. Gallion, 56, Shirley A. Cunningham Jr., 52, and Melbourne Mills Jr., 76, to repay $42 million taken from the settlement and $20.1 million in interest. Wehr said the interest was 8 percent over the six years the attorneys had the funds.
The attorneys are being sued by about 400 former clients who claim the lawyers took too much money as part of a $200 million fen-phen settlement.
Gallion and Cunningham own a 20 percent stake in Curlin, who won the second leg of the Triple Crown in May.
A federal grand jury indicted the attorneys last month, charging them with conspiring to commit wire fraud in representing more than 400 people in a lawsuit over the diet drug. The lawyers, who were temporarily suspended from practicing law by the Kentucky Bar Association, have pleaded not guilty. Federal prosecutors want the lawyers to forfeit any assets they have to pay restitution to their former clients.
Wehr previously ruled that the three attorneys breached their duty to their clients. A trial to determine punitive damages has been delayed while the criminal case, scheduled for trial in October, is resolved. Wehr, in a four-page ruling, said Cunningham, Gallion and Mills overpaid themselves by misappropriating about $64 million from the settlement. Wehr said $20.5 million of that is still being contested, and another $1.5 million is justifiable legal fees. "
http://biz.yahoo.com/ap/070803/lawyers_fen_phen.html?.v=3
" Special Judge William Wehr ordered William J. Gallion, 56, Shirley A. Cunningham Jr., 52, and Melbourne Mills Jr., 76, to repay $42 million taken from the settlement and $20.1 million in interest. Wehr said the interest was 8 percent over the six years the attorneys had the funds.
The attorneys are being sued by about 400 former clients who claim the lawyers took too much money as part of a $200 million fen-phen settlement.
Gallion and Cunningham own a 20 percent stake in Curlin, who won the second leg of the Triple Crown in May.
A federal grand jury indicted the attorneys last month, charging them with conspiring to commit wire fraud in representing more than 400 people in a lawsuit over the diet drug. The lawyers, who were temporarily suspended from practicing law by the Kentucky Bar Association, have pleaded not guilty. Federal prosecutors want the lawyers to forfeit any assets they have to pay restitution to their former clients.
Wehr previously ruled that the three attorneys breached their duty to their clients. A trial to determine punitive damages has been delayed while the criminal case, scheduled for trial in October, is resolved. Wehr, in a four-page ruling, said Cunningham, Gallion and Mills overpaid themselves by misappropriating about $64 million from the settlement. Wehr said $20.5 million of that is still being contested, and another $1.5 million is justifiable legal fees. "
http://biz.yahoo.com/ap/070803/lawyers_fen_phen.html?.v=3