Another good editorial in The Examiner calling for congressional hearings into the predations of the trial bar, focusing on but not limited to the crimes of Milberg Weiss. One issue that Congress could consider, they suggest in the editorial, “Milberg settlement should only be the beginning“:
One former Milberg Weiss partner who left the firm after the firm’s federal indictment in 2007 has sued disgraced former partners Lerach, Melvyn Weiss and Steven Schulman. What about the defendants in the 165 cases prosecutors identified as involving Milberg Weiss corruption? Do those defendants now have grounds for damage suits against the firm and its former partners?
Looks like it. Or at least somebody is suing. From the Wall Street Journal’s Law Blog:
Earlier this week, two former Milberg antitrust partners, Douglas Richards and Michael Buchman, filed suits against Milberg founder Mel Weiss and the three other former firm leaders — Bill Lerach, David Bershad and Steven Schulman — recently convicted of participating in a scheme that paid kickbacks to class-action plaintiffs, claiming their illegal conduct constituted a breach of their fiduciary duty to their fellow Milberg partners. Click here for an NYLJ story from Tony Lin; here for Richards’s suit; and here for Buchman’s suit. In an email to the NYLJ, Richards, one of the two ex-partners to sue, wrote: “Private litigation by those injured by the misconduct is just beginning.”
Reap, sow, live sword, die.
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