LOS ANGELES (Reuters) - Milberg Weiss Bershad & Schulman LLP, the most prominent class-action securities law firm, was indicted on Thursday by a federal grand jury on fraud, conspiracy and other charges related to an alleged kickback scheme.
A Los Angeles grand jury issued a 20-count indictment against the firm and partners David Bershad and Steven Schulman. Prosecutors accused them of making illegal payments over a 20-year period to clients who agreed to act as plaintiffs.
Milberg Weiss said it would vigorously defend itself against the charges, which analysts said could make it difficult to keep its clients and its attorneys.
Friday, May 19, 2006
Posted by lawwatchers at 11:22 AM