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Schulman's Milberg departure, cont'd



Via David Lat: Justin Scheck, at newish CalLaw blog Legal Pad (hey, isn't that name taken?) has some speculation about possible financial reasons for the timing of the Milberg Weiss partner's resignation (see Dec. 8), and also about the question of whether the feds are going to flip him (Schulman, that is). Specifically (to borrow some language from Ted, who also noticed this story) under Schulman's contract with the firm a resignation before year-end allows him to have his severance pay based on 2005 (pre-indictment) profits rather than 2006 (post-indictment) profits, something that could be worth an additional $5 million to him. Scheck further notes that Schulman recently switched defense attorneys, and that he "very well could" agree to a plea deal, which would almost certainly require him to testify against co-defendant Weiss and the so-far-unindicted Lerach.

Incidentally: on the question of who got to the "Legal Pad" name first, note that Cal Law's first post is dated Oct. 31, while Roger Parloff's is Oct. 8. Advantage: Parloff!

P.S. On the question of "Legal Pad" timing, Brian McDonough, who edits the CalLaw blog by that name, corrects my misimpression and is a good sport about it:

Thanks for linking today to Justin Scheck�s item about Brad Schulman, but I must take issue with you over your good-natured shots at us regarding the name �Legal Pad.� We�re actually not as �newish� as you think. You compared the Oct. 8 debut of that CNN blog to our current blog, where you found the earliest post to be Oct. 31. In fact, our initial post was November 8 � 2005! We initially launched our blog on another host, and that version is still up, at http://legalpad.wordpress.com. It never occurred to us to link backward to the pre-migration version, so there was nothing there on Typepad to tell you that we beat CNN by nearly a year.

Of course, �Legal Pad� is such an obvious and common term, it�s no surprise that it shows up multiple places, but when we chose the name, a cursory Google search had failed to turn up any other blog using it. If you�re motivated to update your item, we would appreciate it. Regardless, though, we�re pleased your forum linked to us.

I feel illiterate at having somehow overlooked this CalLaw blog, which, as a check of its URLs will confirm, has been publishing all sorts of good stuff -- this on the Lemelson patent litigation, for example -- for more than a year now.

 

 


Rafael Mangual
Project Manager,
Legal Policy
rmangual@manhattan-institute.org

Katherine Lazarski
Manhattan Institute
klazarski@manhattan-institute.org

 

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