Two former Milberg partners have sued the law firm’s founder, Melvyn Weiss, and three other former name partner recently convicted of paying kickbacks to class action plaintiffs, writes the New York Law Journal, claiming their illegal conduct constituted a breach of fiduciary duty to their partners.
The suits, which come the day after federal prosecutors agreed to drop criminal charges against Milberg itself in exchange for the payment of $75m (£38.3m) in fines, could be the beginning of a tide of litigation against Weiss and fellow former Milberg name partners William Lerach, Douglas J. Bershad and Steven Schulman, who have pleaded guilty to orchestrating the scheme.
