Securities Law

Milberg Sued Over Kickback Claims

Milberg Weiss Bershad & Schulman is facing a lawsuit over allegations it paid kickbacks to plaintiffs to help it secure lead counsel status in securities class actions.

The suit was filed by six class members in a number of securities suits in which Milberg Weiss served as lead counsel, the Wall Street Journal (sub. req.) reports. The Wall Street Journal’s Law Blog posted the complaint.

The law firm was indicted last year on charges of paying the kickbacks. David Bershad pleaded guilty to conspiracy in connection with the case last month. The firm has vowed to fight the charges.

We welcome your comments, but please adhere to our comment policy and the ABA Code of Conduct.

Commenting is not available in this channel entry.