Fallout From Indictment Begins At Milberg Weiss

Law360, New York (May 19, 2006, 12:00 AM EDT) -- Last week’s indictment of plaintiffs firm Milberg Weiss Bershad & Schulman sent shockwaves through the legal community. But experts say that while the charges mean big trouble for Milberg, class action litigation is likely to remain largely unaffected.

The indictment, which alleges the Milberg Weiss doled out kickbacks to lead plaintiffs, also names former Milberg partners David Bershad and Steven Schulman, as well as repeat Milberg plaintiff Seymour Lazar and outside attorney Paul T. Selzer, who allegedly aided in distributing the cash.

In a 105-page indictment,...
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