The last few years have revealed an ugly underbelly to the plaintiffs’ bar, and some of the biggest trial lawyers across the country have been brought down in criminal prosecutions for their sharp practices. Bill Lerach and Mel Weiss, two legal eagles who made a fortune in bringing security fraud class actions against publicly traded companies, pleaded guilty in October 2007 and April 2008, respectively, for their roles in an alleged decades-long conspiracy pursuant to which serial plaintiffs were paid kickbacks from their court-awarded attorneys’ fees in the cases. The Milberg Weiss firm at which both men once were partners...