October 19, 2007 |
A man prosecutors say was paid about $2.6 million to be a professional plaintiff who helped a New York law firm get lucrative class-action lawsuits pleaded guilty Thursday to obstruction of justice and two other charges. After reaching a plea deal, Seymour Lazar, 80, of Palm Springs appeared before U.S. District Judge John Walter in Los Angeles. He also pleaded guilty to one count each of subscribing to a false tax return and making a false declaration.
June 1, 2007 |
Federal prosecutors may be closer to a possible indictment of renowned class-action lawyer William S. Lerach, attorneys said Thursday. A possible guilty plea from a major defendant in the fraud probe of class-action law firm Milberg Weiss & Bershad could signal that prosecutors may be closing in on founding partner Melvyn Weiss as well as Lerach, a former Milberg partner long regarded as one of its marquee attorneys.
May 4, 2007 |
A former partner in a New York law firm accused by the government of paying illegal kickbacks to class-action clients has asked a federal court in Los Angeles to dismiss the fraud charges against him. The motion could undermine much of the government's case against Milberg Weiss & Bershad. Steven Schulman claims that no one involved in the shareholder lawsuits suffered harm.
December 9, 2006 |
Steven G. Schulman, a partner at New York law firm Milberg Weiss Bershad & Schulman, resigned, eight months after he and the firm were indicted on charges of giving kickbacks to clients in exchange for filing complaints against companies. Schulman, 55, was charged in May along with partner David Bershad, 67, and the firm in a 20-count indictment alleging mail fraud and conspiracy.
November 28, 2006 |
Federal prosecutors said Monday that they might expand their ongoing fraud investigation of class action law firm Milberg Weiss Bershad & Schulman. The case may include "new crimes" that could involve the firm's use of expert witnesses in hundreds of cases, prosecutors said. Government lawyers didn't say what those crimes might be but a Milberg attorney said they might involve fraudulent billing. With the judge pressuring prosecutors to wrap up their seven-year probe, Assistant U.S. Atty.
June 22, 2006 |
Two rival law firms asked a judge to reject the bid of William Lerach's current firm to be lead counsel in a shareholder class-action lawsuit, citing the indictment last month of the securities lawyer's previous firm. Lerach, 60, was a partner at the predecessor of New York- based Milberg Weiss Bershad & Schulman until 2004. Milberg Weiss and two of its partners were indicted by a federal grand jury in May on allegations it made illegal payments to clients.