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Embattled Milberg Weiss Tapped As Lead Counsel

Law360 (July 17, 2006, 12:00 AM EDT) -- Haunted by an exodus of partners and lost clients, Milberg Weiss Bershad & Schulman LLP has been named lead counsel in a securities fraud lawsuit even as it faces charges of conspiracy to pay kickbacks to lead plaintiffs.

The firm’s status was accepted by U.S. District Judge John F. Keenan, who is overseeing a class action lawsuit against bankrupt WRT Energy Corp. He addressed concerns about the firm in a footnote to a court order.

“Anyone who reads a newspaper cannot be unaware of the recent...
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