Paul Geller Breathes Sigh of Relief

Word is that Bill Lerach is set to plead guilty today:

As part of a so-called binding plea, Lerach will pay a fine of $8 million and didn't promise to cooperate with prosecutors, one of the people said. A judge must approve such a plea agreement without any changes or Lerach may withdraw it, the person said.

Lerach's representation of Enron investors isn't a subject of the Milberg Weiss probe, according to the 2006 indictment of the firm.

Lerach left Milberg in 2004 to form Lerach Coughlin Stoia Geller Rudman & Robbins in San Diego. His new firm won't be charged, according to Lerach's plea agreement, one of the people said, asking not to be identified because the matter is confidential.

I bet Paul is happy about that last bit.