MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, July 10, 2007 Investor Class Action Partner Pleads Guilty More than a year after Milberg Weiss & Bershad got hit with a 20-count indictment for an alleged lawsuit kickback scheme, the attorney formerly in charge of the New York City-based class action firm's finances agrees to hand over $8 million and cooperate with prosecutors. Reuters reports that David Bershad plead guilty as part of a plea bargain with federal prosecutors. Firm founder Melvyn Weiss and ex-partner William Lerach both have not been charged, while retired partner Steven Schulman and the firm itself have both plead not guilty. And Milberg Weiss doesn't seem to be fazed by the plea bargain. The firm released a statement saying Bershad's deal "was not unexpected" and adding that "his actions will have no effect on the firm's commitment to its clients and its ongoing work to protect public shareholders and consumers." Printed from: MFWire.com/story.asp?s=15001 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |