A New York judge has given a boost to Milberg Weiss Bershad & Schulman by appointing the embattled law firm co-lead counsel in a consolidated suit over stock option backdating.

One of the nation’s leading securities plaintiffs firms, Milberg Weiss’ ability to carry on with client matters has been in question since the firm and two of its name partners — David Bershad and Steven Schulman — were indicted in May on charges they paid illegal kickbacks to class action plaintiffs. All pleaded not guilty last week in Los Angeles federal court.

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