Milberg Extorted $18M Via Securities Suits: Casino Co.

Law360, New York (March 25, 2009, 12:00 AM EDT) -- A casino developer has sued plaintiffs powerhouse firm Milberg LLP and several former partners, accusing them of extorting $18 million from the company to settle two securities class actions in 2000.

Minnesota-based Lakes Entertainment Inc. filed a suit in the U.S. District Court for the District of Minnesota on Monday, alleging claims of fraud, conspiracy and RICO violations against the firm, a consultant and three lawyers, including jailed attorney William Lerach.

The firm conspired to launch two meritless shareholder actions — alleging $165 million in investor...
To view the full article, register now.