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Los Angeles–Steven Schulman, the name partner of Milberg Weiss Bershad & Schulman who was named earlier this year in an indictment against the firm and another partner, has resigned. Schulman, who joined the firm in 1986, took a leave of absence shortly before charges were announced against him, name partner David Bershad and Milberg Weiss in May. The indictment alleges that they made $216 million in attorney fees by paying $11.3 million in secret and illegal kickbacks. A press release announcing his resignation said he would “devote himself to new ventures as well as continue his participation to defeat the indictment.” It also said he “plans to use some of his time to explain the significant positive impacts of class action litigation.” During his tenure, Schulman was lead trial counsel in the securities litigation against MicroStrategy Inc., which settled for more than $130 million. He also led the trial team in the derivative litigation against the Walt Disney Co. In the indictment, Schulman is being represented by Gordon Greenberg of McDermott, Will & Emery, and Herbert Stern of Stern & Kilcullen in Roseland, N.J. Milberg Weiss’ lawyers include William Taylor of Zuckerman Spaeder.

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