Suit Claims Milberg Negligence Sank Securities Case

Law360, New York (November 5, 2009, 2:49 PM EST) -- A former client has hit Milberg LLP and three other firms with a proposed class action, alleging negligence by the firms led a securities class action to be decertified and judgment to be entered in favor of the defendant, an American International Group Inc. subsidiary.

The suit was filed Monday in the U.S. District Court for the District of Arizona by Phillip Bobbitt, who states that he was a member of the certified class in the underlying suit. The suit against the firms seeks to represent...
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