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Matching entries from Houston's Clear Thinkers
Loren Steffy's Enron myopia
Houston Chronicle business columnist Loren Steffy is a particularly vitriolic critic of former Enron executives Jeff Skilling and the late Ken Lay. Steffy convinced himself early on that Skilling and Lay had lied to investors about Enron, so he made...
The Bershad plea deal
As expected, former Milberg Weiss partner David Bershad copped a plea deal this week in which he pled guilty to a single count of conspiracy out of the 20 count indictment that he, the law firm and former Milberg partner,...
Milberg Weiss on the brink
The longstanding criminal investigation and finally the indictment of the class action plaintiffs' firm Milberg Weiss Bershad & Schulman has been a common topic on this blog, so it has been with interest that I have been following the WSJ's...
The price of favorable testimony
In response to my recent lengthy posts (here and here) on the injustice of the conviction and brutal sentencing of former Enron executive Jeff Skilling, many folks who have not followed the Enron criminal cases closely have observed to me...
Smartest Guys in the Courtroom?
Peter Elkind of The Smartest Guys in the Room fame has now turned his sights toward class-action plaintiff's law firm, Milberg Weiss Bershad & Schulman (prior posts here). In this lengthy article (hat tip to Peter Lattman) entitled The law...
Profiting from business prosecutions
So, now it's Debra Wong Yang, U.S. Attorney for California's central district, is resigning to take a job with Gibson, Dunn & Crutcher LLP where she will serve as co-chair of the firm's crisis management practice group. Sounds sort of...
The sinking Milberg Weiss ship
Class action securities powerhouse Milberg Weiss Bershad & Schulman has been attempting to keep a stiff upper lip in the face of the Justice Department's decision to go Arthur Andersen on the firm earlier this year (previous posts here), but...
The State of Securities Class Actions
Bruce Carton over at the Securities LItigation Watch has posted his annual State of the (Securities Litigation) Union analysis, which provides an excellent overview of the status of class action securities lawsuit sector. Interestingly, it does not appear that the...
The pressured ex-wife in the Milberg Weiss affair
This Justin Scheck/The Recorder article reports on the latest development in the criminal investigation into Milberg Weiss Bershad & Schulman -- the apparent willingness of the former wife of one of Milberg Weiss' favorite expert witnesses to testify that the...
Disney-Ovitz decision upheld
Professor Ribstein -- who was prescient in predicting the outcome of the corporate case of the decade -- can rest easy. In a ruling issued yesterday afternoon, the Delaware Supreme Court upheld the Delaware Chancellory Court's decision dismissing the civil...
The shrinking of Milberg Weiss
As noted earlier here, the indictment of Milberg Weiss Bershad & Schulman is likely to put the firm out of business regardless of the outcome, although the firm is officially keeping a stiff upper lip and making a go of...
The issues involved in the Milberg Weiss indictment
The indefatigable Walter Olson, senior fellow at the Manhattan Institute for Policy Research and editor of the popular blawgs Overlawyered.com and PointOfLaw.com, chimes in today with this Wall Street Journal ($) op-ed that provides a fine overview of the key...
Shoe drops on Milberg Weiss
As anticipated by this post from earlier this week, a federal grand jury indicted Milberg Weiss Bershad & Schulman yesterday in Los Angeles for allegedly funneling kickbacks to plaintiffs in dozens of securities class-action cases over a 20-year period. The...
Milberg Weiss continues to reel
In a development that drips with irony, this NY Times article (see also here) reports that David Bershad and Steven Schulman -- two of the top partners in the class action plaintiffs firm, Milberg Weiss Bershad & Schulman LLP --...
Good news and bad news for Milberg Weiss
This NY Times article reports that Mel Weiss and Bill Lerach received good news and bad news earlier in the week regarding the longstanding criminal investigation against the two men and the Milberg Weiss Bershad & Schulman law firm over...
The pawn in the Milberg, Weiss game
This fascinating Rhonda Rundle W$J article profiles Southern California attorney Seymour Lazar, who was indicted last year for supposedly taking illegal kickbacks from Milberg Weiss Bershad & Schulman, the former law firm of securities fraud plaintiffs lawyers, William Lerach and...
Another problem for Milberg Weiss
On my way out the door to attend the Houston Bowl today, I noticed this LA Times article on the latest development in the now five-year criminal investigation of certain of the attorneys involved in the former Milberg Weiss Bershan...
KPMG class action tax shelter settlement moves toward final approval
Following on this earlier post regarding the proposed settlement, U.S. District Judge Dennis Cavanaugh preliminarily approved a proposed $225 million class-action settlement by KPMG LLP and the Sidley Austin Brown & Wood LLP law firm over questionable tax shelters that...
KPMG moves to settle tax shelter class action
Battered and bruised after negotiating a deferred prosecution agreement with the Justice Department that narrowly prevented a criminal indictment of the firm, accounting giant KPMG LLP took another baby step yesterday in its plan to attempt to preserve the firm...
Securities litigation is like Being John Malkovich?
Peter Henning comes up with that apt description of Bruce Carton's analysis of the black hole that is developing in the securities litigation arena, where litigation seemingly begets litigation about the original litigation. The latest example is speculation over Milberg...
Heat turned up a notch on Milberg Weiss
This Wall Street Journal ($) article reports that federal investigators have turned up the pressure in its investigation of several prominent plaintiffs class action securities lawyers at the former Milberg, Weiss law firm, including granting immunity to a former Milberg...
More on the criminal investigation of Milberg Weiss
This New York Sunday Times article provides the most detailed report to date on the three-year investigation into whether prominent class action securities plaintiffs lawyers -- William Lerach and Melvin I. Weiss -- and their former New York law firm...
DOJ turns up the pressure on Milberg Weiss
Following on this post from over the weekend regarding the developments in the ongoing criminal investigation of lawyers in two firms who used to practice together in the well-known plaintiffs class action law firm formerly known as Milberg Weiss Bershad...
Is Lerach a target?
The dozens of securities fraud lawsuits against Enron and various other parties are consolidated under the federal multi-district litigation rules in Houston federal court. The legal community involved in those cases is abuzz today with the news that a federal...
Class Action Industrial Complex
This Forbes article addresses a trend noted in these earlier posts -- public pension funds becoming the lead plaintiffs in securities fraud litigation. And the public policy implications are not pretty: And so it goes in the cozy confines of...
Plaintiffs counsel in Enron civil litigation involved in merger
Lerach Coughlin Stoia & Robbins LLP -- lead plaintiffs' counsel in the multi-district civil litigation against Enron Corp. -- announced today that it is merging effective August 1 with Boca Raton-based Geller Rudman PLLC. Both firms specialize in class action...
Milberg Weiss split consummated
This NY Times article reports on the long brewing split into two firms of the large class action plaintiffs' firm, Milberg Weiss Bershad Hynes & Lerach. One of the firms will be led by William Lerach, based in San Diego,...
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