Posted May 31, 2007 04:52 pm CDT
A lawyer with securities class-action firm Milberg Weiss & Bershad is negotiating a plea deal with the government, the Wall Street Journal reports (sub. req.).
If name partner David Bershad pleads guilty, it is unclear if he will cooperate with the government, the newspaper says. He has been indicted on charges he paid kickbacks to lead plaintiffs in class-action cases. Also indicted are former partner Steven Schulman and the firm itself. (See “Milberg Weiss on the Hot Seat,” December 2006 ABA Journal.)
The indictment claims Bershad paid plaintiffs with money stashed in a safe in his office.