Milberg: Difference between revisions
Content deleted Content added
m Fix broken URL |
No edit summary |
||
| Line 1: | Line 1: | ||
Founded in 1965 by attorneys [[Larry Milberg]] and [[Melvyn I. Weiss]], '''Milberg Weiss''' (formerly known as '''Milberg Weiss & |
Founded in 1965 by attorneys [[Larry Milberg]] and [[Melvyn I. Weiss]], '''Milberg Weiss''' (formerly known as '''Milberg Weiss Bershad & Schulman LLP''') is a U.S. plaintiffs' law firm. Based in [[New York City]], it is widely known for representing investors in securities class actions. Before its split in May [[2004]], it was the largest [[plaintiff]] [[law firm]] in the [[United States]], with over 200 [[attorneys]] and a leader in its field, responsible, at least in part, for over 50 percent of all securities [[class action]] cases settled in 2002.<ref>[http://securities.stanford.edu/Settlements/REVIEW_1995-2002/Through2002.pdf 1995-2003 Securities Settlements Review (pdf)]</ref> |
||
Milberg Weiss is currently embroiled in a criminal investigation. On [[May 18]], [[2006]],<ref>[http:// www.nytimes.com/2006/05/18/us/18cnd-legal.html?ex=1305604800&en=b01b688a560ca3d5&ei=5088&partner=rssnyt Milberg Weiss Is Charged With Bribery and Fraud], Julie Creswell, ''[[The New York Times]]'', [[May 18]], [[2006]].</ref><ref>[http://online.wsj.com/public/resources/documents/milbergpress05182006.pdf U. S. Department of Justice press release].</ref> the firm and two of its named partners, [[David J. Bershad]] and [[Steven G. Schulman]] (Schulman resigned in December 2006), were indicted by [[United States Attorney]] [[Debra Wong Yang]] of the [[United States District Court for the Central District of California]] on various counts, including [[racketeering]], [[mail fraud]], and [[bribery]]. The charges include claims that Milberg Weiss paid portions of its legal fees to plaintiffs in order to induce them to sue.<ref name="Elkind">{{cite news |url= http://money.cnn.com/magazines/fortune/fortune_archive/2006/11/13/8393127/?postversion=2006103111 |title= The fall of America's meanest law firm: Milberg Weiss, the lawsuit factory that took corporations for $45 billion, is in the feds' cross hairs. |work= [[Fortune (magazine)|Fortune]] |date= [[November 3]] [[2006]] |author= Peter Elkind |quote= …Milberg Weiss and the two outsized personalities who ruled the place, Mel Weiss and [[William Lerach|Bill Lerach]]… has been indicted for allegedly paying three plaintiffs $11.4 million in illegal kickbacks in about 180 cases spanning 25 years - and then repeatedly lying about it to the courts. }}</ref><ref>{{cite news |url= http://www.economist.com/finance/displaystory.cfm?story_id=E1_QTPSTRN |title= Class-action lawsuits |work= [[The Economist]] |date= [[June 30]] [[2005]] }}</ref> By January 2007, more than half of the firm's partners had left the firm. |
Milberg Weiss is currently embroiled in a criminal investigation. On [[May 18]], [[2006]],<ref>[http:// www.nytimes.com/2006/05/18/us/18cnd-legal.html?ex=1305604800&en=b01b688a560ca3d5&ei=5088&partner=rssnyt Milberg Weiss Is Charged With Bribery and Fraud], Julie Creswell, ''[[The New York Times]]'', [[May 18]], [[2006]].</ref><ref>[http://online.wsj.com/public/resources/documents/milbergpress05182006.pdf U. S. Department of Justice press release].</ref> the firm and two of its named partners, [[David J. Bershad]] and [[Steven G. Schulman]] (Schulman resigned in December 2006), were indicted by [[United States Attorney]] [[Debra Wong Yang]] of the [[United States District Court for the Central District of California]] on various counts, including [[racketeering]], [[mail fraud]], and [[bribery]]. The charges include claims that Milberg Weiss paid portions of its legal fees to plaintiffs in order to induce them to sue.<ref name="Elkind">{{cite news |url= http://money.cnn.com/magazines/fortune/fortune_archive/2006/11/13/8393127/?postversion=2006103111 |title= The fall of America's meanest law firm: Milberg Weiss, the lawsuit factory that took corporations for $45 billion, is in the feds' cross hairs. |work= [[Fortune (magazine)|Fortune]] |date= [[November 3]] [[2006]] |author= Peter Elkind |quote= …Milberg Weiss and the two outsized personalities who ruled the place, Mel Weiss and [[William Lerach|Bill Lerach]]… has been indicted for allegedly paying three plaintiffs $11.4 million in illegal kickbacks in about 180 cases spanning 25 years - and then repeatedly lying about it to the courts. }}</ref><ref>{{cite news |url= http://www.economist.com/finance/displaystory.cfm?story_id=E1_QTPSTRN |title= Class-action lawsuits |work= [[The Economist]] |date= [[June 30]] [[2005]] }}</ref> By January 2007, more than half of the firm's partners had left the firm. |
||
Revision as of 15:09, 31 October 2007
Founded in 1965 by attorneys Larry Milberg and Melvyn I. Weiss, Milberg Weiss (formerly known as Milberg Weiss Bershad & Schulman LLP) is a U.S. plaintiffs' law firm. Based in New York City, it is widely known for representing investors in securities class actions. Before its split in May 2004, it was the largest plaintiff law firm in the United States, with over 200 attorneys and a leader in its field, responsible, at least in part, for over 50 percent of all securities class action cases settled in 2002.[1]
Milberg Weiss is currently embroiled in a criminal investigation. On May 18, 2006,[2][3] the firm and two of its named partners, David J. Bershad and Steven G. Schulman (Schulman resigned in December 2006), were indicted by United States Attorney Debra Wong Yang of the United States District Court for the Central District of California on various counts, including racketeering, mail fraud, and bribery. The charges include claims that Milberg Weiss paid portions of its legal fees to plaintiffs in order to induce them to sue.[4][5] By January 2007, more than half of the firm's partners had left the firm.
Three longtime Milberg Weiss partners have pled guilty to federal charges, including Steven Schulman, David Bershad, and William Lerach. Mel Weiss has pled not guilty. Bershad will pay $250,000 in fines and forfeit $7.75 million. Bershad's sentencing hearing, at which the Court will decide if he will also be incarcerated, is set for June 2008.[6]
See also
References
- ^ 1995-2003 Securities Settlements Review (pdf)
- ^ [http:// www.nytimes.com/2006/05/18/us/18cnd-legal.html?ex=1305604800&en=b01b688a560ca3d5&ei=5088&partner=rssnyt Milberg Weiss Is Charged With Bribery and Fraud], Julie Creswell, The New York Times, May 18, 2006.
- ^ U. S. Department of Justice press release.
- ^ Peter Elkind (November 3 2006). "The fall of America's meanest law firm: Milberg Weiss, the lawsuit factory that took corporations for $45 billion, is in the feds' cross hairs". Fortune.
…Milberg Weiss and the two outsized personalities who ruled the place, Mel Weiss and Bill Lerach… has been indicted for allegedly paying three plaintiffs $11.4 million in illegal kickbacks in about 180 cases spanning 25 years - and then repeatedly lying about it to the courts.
{{cite news}}: Check date values in:|date=(help) - ^ "Class-action lawsuits". The Economist. June 30 2005.
{{cite news}}: Check date values in:|date=(help) - ^ Dawn Kawamoto (July 9 2007). "One of the lawyers Silicon Valley loves to hate". CNET News.com.
{{cite news}}: Check date values in:|date=(help)
 | This United States corporation or company article is a stub. You can help Wikipedia by expanding it. |