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Major class-action attorneys charged

Published:

Last Edited: May 18, 2006, 11:19 pm

Milberg Weiss Is Charged With Bribery and Fraud

"The securities class-action law firm of Milberg Weiss Bershad & Schulman was charged today with several criminal counts, including obstructing justice, perjury, bribery and fraud.

The 20-count indictment, handed up by a federal grand jury in Los Angeles, represents the most prominent confrontation between the government and a law firm in years. While federal regulators won multimillion-dollar settlement from big corporate law firms over their role in the savings and loan scandals, no major law firm has faced a criminal indictment in recent memory.

Milberg Weiss has been the dominant law firm in winning multimillion-dollar lawsuits against huge corporations on behalf of shareholders who claimed they were wronged. Its success was so great that Congress raised the legal hurdle for winning such lawsuits in the 1990's. "  .......................

 http://www.nytimes.com/2006/05/18/us/18cnd-legal.html?ei=5065&en=824c47e6560bde79&ex=1148616000&partner=MYWAY&pagewanted=print

Entry #317

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