Schulman Pleads Guilty To Milberg Weiss Kickbacks

Law360, New York (October 9, 2007, 12:00 AM EDT) -- Former Milberg Weiss LLP lawyer Steven Schulman officially pleaded guilty to racketeering charges in federal court on Tuesday, becoming the second partner of the disgraced law firm to admit to paying illegal kickbacks to plaintiffs in shareholder class action suits.

Schulman told U.S. District Judge John Walter of the U.S. District Court for the Central District of California that the charge against him was “true and correct” and agreed to forfeit $1.85 million in illegal gains and pay a fine of up to $250,000.

His words...
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