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Bershad Pleads Guilty In Milberg Kickback Scandal

Law360 (July 9, 2007, 12:00 AM EDT) -- An ex-managing partner of plaintiffs law firm Milberg, Weiss, Bershad & Schulman LLP on Monday pled guilty for his role in a scheme to pay millions of dollars in kickbacks to lead plaintiffs, agreeing to forfeit over $7 million and pay a fine.

David Bershad admitted to conspiring with other attorneys, including fellow fallen name partner Steven Schulman, paying off plaintiffs in more than 150 class actions and shareholder derivative suits. In addition to forfeiting $7.75 million, Bershad will pay $250,000 in penalties and cooperate with...
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