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The boot's on the other foot; Milberg Weiss.(Milberg Weiss Bershad & Schulman L.L.P.)

The legal scourge of American companies is itself accused

FOR years a lawsuit from Milberg Weiss Bershad & Schulman has been a common aftershock for American companies hit by financial earthquakes. After a sharp decline in a firm's share price, Milberg Weiss would threaten a class-action suit on behalf of shareholders allegedly cheated into buying overpriced equity. The company would typically settle, in effect compensating shareholders with their own money--a slice of which went to Milberg Weiss.

To Milberg Weiss and its sympathisers, this is civil justice; to the companies forced to pay, it is a shake-down. The defendants enjoyed a form of redress on May 18th when ...

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