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FOR IMMEDIATE RELEASE: May 30, 2008

Yesterday, the AEI Legal Center for the Public Interest released an important new empirical study with implications for the...

Milberg Weiss Bershad & Schulman and a spinoff firm led by William Lerach dominated securities class actions over the last twenty years. But in 2006 and 2007, prosecutors indicted the Milberg firm, Lerach, Mel Weiss, David Bershad, and Steven Schulman for paying kickbacks to “class representative” plaintiffs, who were supposed...

Introduction

In the late 1990s, the lawyers at Milberg Weiss Bershad Hynes & Lerach were the undisputed kings of securities fraud class actions. Melvyn Weiss, the dean of the securities class action bar and a co-founder of the firm, ran its New York office. Bill Lerach, frequently described as the most...

Testimony before the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises on issues surrounding the Milberg Weiss indictment and H.R. 5491.

There is little question that once-high-flying trial lawyers are on the ropes, butreforms that inconvenience the trial bar have been blocked by Democrats whenever possible.

What had been a trickle of litigation over Vioxx became a flood.

Testimony to the House Committee on Ways and Means regarding the reviewof outcomes of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PL 104-193), which overhauled the welfare system.