Securities Law Firm Presents Sticky Situation For Some

The lawsuit charging law firm Milberg Weiss Bershad Schulman with fraud and conspiracy for paying more than $11 million in illegal kickbacks to clients named lead plaintiffs in class actions is presenting some thorny problems, delaying the case.

The lawsuit charging law firm Milberg Weiss Bershad Schulman with fraud and conspiracy for paying more than $11 million in illegal kickbacks to clients named lead plaintiffs in class actions is presenting some thorny problems, delaying the case. The Los Angeles Times reports that five judges to date have taken themselves off the case because they either dealt with the New York firm in securities class actions or hold shares in the companies involved in those actions, or in other matters with the firm. “This is a unique situation,” New York University Law Processor Stephen Gillers told the Times, which notes that the difficulty in finding a judge to preside demonstrates the extent of Milberg Weiss’ presence in securities litigation.