We’ve all heard about class-action lawyers who buy yachts, Learjets and thoroughbred racehorses with their litigation largesse. That’s why the criminal investigation of class-action law firm Milberg Weiss and the recent resignation of Bill Lerach from his California-based law firm is so captivating.

If, as reported, Lerach is pondering a guilty plea, many of his business targets, and even competitors in the plaintiffs’ bar, are no doubt anxious to see him on the receiving end the law.