Federal prosecutors today reached a settlement with class action law firm Milberg, four of whose former name partners have pleaded guilty in the past year to criminal charges relating to the payment of kickbacks to individual plaintiffs in shareholder cases.

The deal calls for the New York-based firm to pay $75 million in fines in exchange for the dropping of criminal charges. That amount is to be paid in installments through 2012, but the schedule will be accelerated if Milberg’s revenues exceed $40 million in a single quarter or $120 million over four quarters.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]