Milberg Weiss Class Action Bid Denied

Law360, New York (March 19, 2007, 12:00 AM EDT) -- A district court judge has struck another blow to embattled law firm Milberg Weiss & Bershad LLP, which was ruled inadequate to act as sole lead counsel in a proposed class action securities case against health company Organogenesis.

Judge Joseph L. Tauro also denied class certification to shareholders of Organogenesis because the lead plaintiffs were not typical. The proposed class, which bought Organogenesis stock from Nov. 15, 1999 through Feb. 7, 2002, accused Organogenesis’ directors and officers of hiding the companies’ deteriorating financial condition. When Organogenesis...
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