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Article: Magazine: Milberg Weiss Is Hemorrhaging
- Article from:
- Daily News
- Article date:
- November 8, 2006
- Author:
CopyrightCopyright 2006 Daily News. Provided by ProQuest LLC. (Hide copyright information)
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LOS ANGELES (HedgeWorld.com) - It has been half a year since a
federal grand jury in California indicted the law firm of Milberg
Weiss and two of its partners, and although the firm itself has
sought to keep up a brave front, an article in Fortune magazine
claims that Milberg Weiss - a pioneer in securities fraud class
action lawsuits - is crumbling.
The article, by editor-at-large Peter Elkind, states flatly that
the firm is suffering from an "exodus," even a "hemorrhaging," of
clients and lawyers alike, and has filed only a "handful of lawsuits"
since the indictment was announced in May.
The indictment invokes the Racketeering Influenced and Corrupt
Organizations Act (RICO), which ...