Published on:

Prominent New York Securities Firm Receives 20-Count Indictment

By

This story is really bad and exemplifies greed run amok.  The New York law firm of Milberg Weiss Bershad & Shulman yesterday received a 20-count indictment for allegedly paying illegal kickbacks to plaintiffs in class action lawsuits.  Here is an excerpt of the story provided courtesy of The New York Times:

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.

Today, the firm was accused of secretly paying kickbacks, beginning in 1981 and continuing through 2005, to plaintiffs in class-action lawsuits. While the indictment does not prevent the firm from practicing law, it is expected to have a huge impact on its business.

Tags: law firm and attorney ethics

Raving Fans
★★★★★
"I find Christopher Earley to be one of the most professional and compassionate attorneys I have ever met. After having a personal injury, what you need is expertise, experience, and especially compassion and kindness. All of these things define Christopher Earley. I highly recommend Christopher Earley and The Earley Law Group Injury Lawyers to anyone that needs a personal injury attorney!" Susan N.
★★★★★
"Great help with my case. Responses are fast and make me feel very well represented. This man is the guy to call." Hugh R.
★★★★★
"Chris helped me with an extremely difficult time in my life due to a car accident. Even after the settlement, he continued to advocate for me when I was receiving collections notices that were not valid. You can feel assured he will do a great job." Angela C.
View More
Submit a Law Firm Client Review
Contact Information
Boston Office
44 School St #805
Boston, MA 02108
Main: 617-338-7400Phone: 617-397-4242Phone: 617-444-7777Fax: 617-367-5025
Hingham Office
24 Central St
Hingham, MA 02043
We serve clients throughout Massachusetts, including, but not limited to, those in the following localities: Essex County including Andover, Beverly, Lawrence, Lynn, Peabody, Salem, and Saugus; Middlesex County including Cambridge, Framingham, Lowell, Malden, Medford, and Somerville; Norfolk County including Quincy; Plymouth County including Brockton; and Suffolk County including Allston, Boston, Brighton, Charlestown, Chelsea, Hyde Park, Jamaica Plain, Mattapan, Revere, Roslindale, West Roxbury, and Winthrop. View More

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. The contact form sends information by non-encrypted email, which is not secure. Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship.

Copyright © 2024, Earley Law Group Injury Lawyers
JUSTIA Law Firm Blog Design