The San Jose Mercury News quoted Professor Joseph A. Grundfest and referenced Stanford Law School's Securities Class Action Clearinghouse in an article about plaintiffs attorney Bill Lerach's fall from grace:

"As a practical matter, I don't think the plea is going to make much difference in the market for securities actions," said Joseph Grundfest, a Stanford law and business professor. "What happens in the future is going to depend on much more than the presence or absence of one lawyer."