Judge Declines to Dismiss Charge Against Once-Mighty Milberg
The federal judge overseeing the unprecedented case against the former Milberg Weiss has declined to dismiss a money-laundering conspiracy charge against the firm even though all the principal targets in the case have pleaded out.
U.S. District Judge John Walter ruled Monday that the law firm was correctly charged, the Associated Press reports.
The firm’s founding partner Melvyn Weiss pleaded guilty earlier this month and apologized for being involved in a scheme to pay millions of dollars in secret kickbacks to lead plaintiffs in securities class actions.
The firm, now known as Milberg, while once defiant is now said to be in plea negotiations with the prosecution.
Trial is set for Aug. 12.
More about the case:
ABA Journal: “Milberg Weiss on the Hot Seat,” December 2006
