Wednesday, May 31, 2006
Law - Criminal Charges Levied Against Big Tort Law Firm
This will be interesting, to say the least...
In the New York Sun, Josh Gerstein reports:
"LOS ANGELES - The future of one of the country's leading class-action law firms, Milberg Weiss, is in grave doubt after a federal grand jury returned a criminal indictment yesterday accusing the firm of engaging in a secret, 25-year-long conspiracy to kick back attorneys fees to investors who served as named plaintiffs in more than 150 lawsuits brought against publicly-traded American companies."
"Two top Milberg Weiss Bershad & Schlman LLP partners, David Bershad and Steven Schulman, were charged personally with criminal racketeering conspiracy. In addition, prosecutors are demanding that the firm forfeit $216.1 million, the sum Milberg Weiss earned in cases allegedly tainted by illegal kickbacks."
"'This case is about protecting the integrity of the justice system in America,' the United States Attorney in Los Angeles, Debra Wong Yang, said at a press conference yesterday afternoon."
