Famed class action lawyer Stan Chesley is the subject of a disbarment hearing today in Lexington, KY concerning his alleged role in siphoning millions from a settlement involving the diet drug fen-phen which should have gone to the injured class members as reported by Valerie Miller for the Kentucky Post: an investigative report alleges "Chesley agreed to a 21 percent fee for his work on the case, but then, in a closed door meeting with Kentucky Judge Joseph Bamburger, the actual settlement gave lawyers 49 percent of the $200 million settlement."
The legal eagle is the husband of federal judge Susan J. Dlott, appointed by President Clinton in 1995 to the U.S. District Court in southern Ohio, and the pair live in a 27,000-square-foot mansion purchased in greater Cincinnati for $12 million in 2004 as reported by Matt Leingang for the Enquirer.
Chesley also is licensed to practice law in Ohio; however, "Ohio and Kentucky have a reciprocal agreement that could mean he loses his license in Ohio if he's disbarred in Kentucky" as reported by Daniel Fisher for Forbes.
Reading which may be of further interest:
Congress Must Investigate The Trial Lawyers
Plaintiffs' Firm Sued Over Att'y Fees In Tyco Case
UPDATE: The Kentucky Bar Association board of governors has recommended the disbarment of Chesley, and its "recommendation will be sent to the Kentucky Supreme Court, which has final say on attorney discipline cases" as reported by Beth Musgrave for the Lexington Herald Leader.
