1590s, "act of lacerating;" 1630s, "breach or rend made by tearing;" from French lacération, from Latin lacerationem (nominative laceratio) "a tearing, rending, mutilation," noun of action from past-participle stem of lacerare "tear to pieces, mangle; slander, abuse" (see lacerate).
The -d- to -l- alteration in Latin is the so-called "Sabine -L-"; compare Latin olere "smell," from root of odor, and Ulixes, the Latin form of Greek Odysseus. The Medieval Latin practice of writing -ch- for -c- before Latin -r- also altered anchor, pulchritude, sepulchre. The -y- is pedantic, from the former belief that the word was pure Greek. Earlier in the same sense was lachrymental (1620s). Middle English had lacrymable "tearful" (mid-15c.).