Thursday, October 18, 2007

Milberg Weiss Missteps

Justin Scheck has an interesting and thorough article in The Recorder (here) discussing the recent superseding indictment of Melvyn Weiss and his firm, Milberg Weiss, and how the firm appears to have made a series of missteps that jeopardizes its continued existence.  While former Milberg Weiss partner William Lerach's plea deal gets extricates his new firm -- formerly Lerach Coughlin, now Coughlin Stoia with Lerach's retirement -- from the criminal investigation, Weiss' indictment keeps his firm in the cross-hairs, with no resolution of the charges in sight yet.  With the plea agreements of two former Milberg Weiss name partners, Steven Schulman and David Bershad, it will be just this side of impossible for the firm to defend itself from the charges because of the acts of its agents can be attributed to the entity.  The article describes the firm's leadership as being in turn "indecisive, myopic, stubborn and simply unlucky."  Milberg Weiss has been under indictment for almost a year and a half now, and it continues to survive, although perhaps not thrive with the indictment hanging over its head.  Getting out of the case will cost it millions, so it won't be easy to resolve the case. (ph)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2007/10/milberg-weiss-m.html

Legal Ethics, Prosecutions | Permalink

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