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Breaking: Name Milberg Weiss partner to plead guilty



Nathan Koppel is reporting that David Bershad will plead guilty, which suggests that he will testify against unindicted coconspirators Mel Weiss and William Lerach. [Cal Law Legal Pad; WSJ ($)]

Earlier POL coverage of Milberg Weiss indictment.

Update: Roger Parloff and Peter Elkind have more detail. Parloff earlier noted that the Los Angeles Daily Journal reported that Weiss and Lerach had turned down plea deals.

Further update: the WSJ has the plea agreement and the accompanying statement. Of particular interest is the admission that the slush fund used for paying kickbacks was funded by top Milberg Weiss partners in amounts "approximately proportionate" to their partnership shares: this is a strong indication that the indictment of Milberg Weiss is not the sort of Arthur-Andersen-type overreach of which many conservatives expressed concern, but, rather, an appropriate use of the criminal justice system to pursue an organization that was acting illegally. The WSJ reports ($) that Bershad will face fines and forfeitures totalling $8 million; it's unclear whether he will avoid jail time.

 

 


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

Katherine Lazarski
Manhattan Institute
klazarski@manhattan-institute.org

 

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The Manhattan Insitute's Center for Legal Policy.