February 01, 2007

Steven G. Cooperman will plead guilty to taking $6.4 million in kickbacks from Milberg Weiss as a named class representative in seventy cases where they obtained more than $133 million in attorneys fees. The indicted firm, whose politically-connected lawyers are among the lead fundraisers for the Democratic Party, continues to deny the allegations. Trial is scheduled for January 2008. [WSJ; Bloomberg; Reuters; DOJ press release; The Recorder; LA Times; NY Times]

I discussed the Milberg Weiss indictment in testimony to Congress last year.