Milberg Weiss Partner Cops To Plea

Law360, New York (September 20, 2007, 12:00 AM EDT) -- Steven Schulman, the former Milberg Weiss LLP partner pleaded guilty Thursday to one count of racketeering, admitting that he and others paid illegal kickbacks to lead plaintiffs in securities class actions, the U.S. Department of Justice reported.

Schulman entered into a plea bargain with the DOJ that contemplates 27 to 33 months imprisonment, though the judge may lower that depending on his cooperation with the DOJ. The statutory maximum sentence is 20 years.

Additionally, Schulman will disgorge $1.85 million in ill-gotten gains and pay a $250,000...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.