May 19, 2006

Sweet good news...

Charlene, of course, caught this one:

FoxNews: A federal grand jury has indicted a top class-action law firm in a scheme that paid more than $11 million in illegal kickbacks to get people to take part in shareholder lawsuits.

The charges follow years of investigation into the way New York-based Milberg Weiss, Bershad & Schulman conducts shareholder lawsuits against major corporations.

Click here to view the indictment (FindLaw PDF).

Lawsuits by the firm, the lead plaintiff in more than half the federal shareholder suits settled from 1997 to 2004, generated hundreds of millions of dollars in attorneys' fees, the indictment said.

"The conduct alleged in the indictment is particularly troubling because it represents a pattern of deception that spans 2 1/2 decades," said U.S. Attorney Debra Wong Yang....

Take their cars and houses, and send 'em up the river....

Posted by John Weidner at May 19, 2006 10:59 AM
Weblog by John Weidner