Lila is filthy rich, due to her father being the owner of Fowler enterprises, which does something boring and vague involving computer chips. Her mom ran off when she was younger ,(see the Fowler Sweet Valley Saga for that whole story), and it's been just her and her dad ever since. She's the typical poor-little-rich girl, and her dad tries to buy her love instead of spending time with her. There are occasionally times later in the series where she wishes she had a "perfect family", like Jessica and Liz, because no one could possibly be truly happy in a single parent family! Oh the horror!
She even shoplifts to get the attention of her dad, (in Power Play), and it works for a whole three pages before he gets back to his business trips and forgets about her again.
She throws about a thousand expensive parties a year, including the deadly xmas party in Evil Twin, and the SVH version of a swinger party, a "pick-up party" (Dear Sister)
Lila is best friends/worst enemies with Jessica Wakefield, and they battle many times, mostly over boys. Lila is somewhat boy-crazy too, although Lila doesn't "get around" the way Jess does. Like she actually seems like she's got some standards. Like she doesn't take every guy that moves to Sweet Valley up to Miller's Point. Something to think about, Jess.
She also goes down in SVH history as the only girl in Sweet Valley who was, for a change, traumatized by her near-rape experience. When John Pfeifer attacks her, she actually takes more then five minutes to get over it, and her friends kind of act like she should "get over it" faster. So supportive. Not everyone bounces back from rape attempts as fast as you, Jessica and Elizabeth!
Lila is so traumatized by this that she's scared of all guys, and even falsely accuses her therapist of sexually assaulting her, (don't worry, he gets cleared of all charges). Her father finally notices that something isn't right, and gets her long-lost mom to come back and spend some time with her daughter.
Huge surprise to everyone, Lila's mother, Grace, and her father end up getting re-married during the evil twin miniseries, and Lila now has her perfect family. (Interestingly enough, the Wakefield family is crumbling in this miniseries. Guess they had to keep the balance in Sweet Valley. Only one perfect family at a time!).