Settlement discussed with Milberg Weiss

Posted by Tracy Coenen on June 1, 2007 · Leave a Comment 

Milberg Weiss & Bershad LLP is talking with federal prosecutors about a potential settlement regarding the accusations of improper kickbacks in class-action suits. Milberg partner David Bershad is also in talks with prosecutors about a personal guilty plea.

The firm and Bershad were indicted in 2006, along with former partner Steven Schulman. The indictment of the firm lists 20 charges related to the payment of $11.3 million in kickbacks.

An agreement between Milberg and prosecutors might be finalized withn a few weeks. The settlement would likely include the payment of a fine and some future monitoring of the firm and its business practices.


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