Milberg Weiss gave top Democrats funding

[Wheres The Beef]

WASHINGTON (Reuters) - Milberg Weiss Bershad & Schulman LLP, the securities class action law firm indicted last week on fraud charges stemming from corporate lawsuits it filed, made large political contributions almost exclusively to Democrats since 1999, records show.

The firm and individuals there made $2.78 million in campaign donations to Democrats since 1999 compared to about $22,000 to Republicans, according to the Center for Responsive Politics, which tracks money in politics.

First Jefferson now this. Somebody better get a grip on this crap!!!

http://news.yahoo.com/s/nm/20060522/pl_nm/crime_milbergweiss_politics_dc_2

[Robbien]

1. These guys are the good guys who are being smeared because

they fought BushCo on Enron, Asbestos, Fannie Mae irregularities, and many class action suits against corrupt corporations.

BushCo kept losing against these guys, so now BushCo is coming after Milberg Weiss.


edit: And Jefferson should give up his seat and hit the road.

[geek tragedy]

16. No, they file bullshit lawsuits that get

settled for nothing but attorneys' fees.

They're bottom feeders, and association with them is nothing to be proud of.

[diamondsndust]

2. one thing that MUST be looked at in this matter is whether or not

the Democrats receiving the money knew that the firm was doing something illegal. It all sounds like pure BS spun by the rightwing republican controlled media as a way to take the focus off of themselves.

Have you seen the charges in the indictment?? Look here:

"Milberg Weiss and two partners, David Bershad and Steven Schulman, were indicted last week on 20 counts of perjury, bribery and obstruction of justice. They were accused of illegally paying clients to act as plaintiffs in lawsuits against corporations."

How in the world would a candidate receiving a campaign contribution be expected to know anything about any of the clients from this firm? :shrug:

[Robbien]

3. The money the Democrats got (much of it during Clinton's time)

was to fight the legislation which was going through the system trying to close down class action suits. Now Milberg Weiss is the main defender against all the RW attacks Cheney keeps pushing about closing down class action suits against asbestos.

[depakid]

5. DLC Dems like Lieberman

were responsible for killing off regulation of the financial industry- which in turn led to the accounting fraud on the late 90's and 2000's -as well as the growth of debt/financial/insurance conglomerates.

If there's a major collapse, history wil not look to kindly on Clinton and that wing of the party.

[WhiteTara]

13. Phil Grahm of Texas and his wife Wendy

were very instrumental in getting the regulations relaxed.

[Up2Late]

4. Looks like the Rove Slander machine is kicking it up another notch.

I feel like I'm watching a headless Chicken, running around with a razor knife.

[Old and In the Way]

6. Milberg Weiss Statement

These guys go after corporate/political corruption in class-action suits...it's no wonder this administration is gunning for them.




http://www.milbergweiss.com/newsevents/publicationsdeta...

STATEMENT OF MILBERG WEISS REGARDING INDICTMENT -- MAY 22, 2006


05/22/06

*
Click here for further information

The Milberg Weiss law firm was informed today that federal prosecutors in Los Angeles have obtained indictments charging the firm and two of its partners, following a five-year investigation into the alleged misuse of "referral fees" paid by the firm. The government's allegations of wrongdoing have been categorically denied by the indicted partners, and the firm intends to join with them in vigorously defending against the charges.

The firm is particularly incensed that the prosecutors decided to indict the firm itself. The firm has 125 attorneys and another 240 employees who, even according to the government, did not participate in or know anything about the matters at issue.

The firm has held intense negotiations with government officials in Los Angeles and Washington over the past six months in an effort to avoid this unjust result. The government's insistence that the firm waive attorney-client privileges as a condition to avoiding indictment is in derogation of one of the bedrock principles of American law and extended to parties the firm did not control. Governmental insistence on such broad waivers has been criticized by the American Bar Association and the U.S. Chamber of Commerce, and is currently being reviewed by Congress.The prosecutors also insisted that the firm make unfounded statements accusing its own partners of crimes and otherwise become an agent for the government. Unfortunately, the prosecutors insisted on indicting the firm unless it made these impossible concessions.

In an effort to address the government's concerns about alleged misuse of referral fees, Milberg Weiss voluntarily adopted a system to ensure that no outside firm or attorney receiving a referral fee from Milberg Weiss would share any portion with a client. Milberg Weiss also retained the services of Bart M. Schwartz, a highly respected former Chief of the Criminal Division in the office of the U.S. Attorney for the Southern District of New York, to monitor the procedures and to develop a "best practices" program. The firm offered to have Mr. Schwartz report his ongoing efforts directly to federal prosecutors in Los Angeles. In addition, as previously reported, partners David Bershad and Steven Schulman have taken leaves of absence pending resolution of the charges filed against them, not because they believe they engaged in wrongdoing, but because they hoped doing so would avoid indictment of the firm. Indictment of the firm was completely unnecessary and unjust.

The government's case depends on its position that the firm and its attorneys failed to provide full and "honest services" in prosecuting cases in furtherance of its clients' interests. That charge is absurd on its face. The firm is renowned for achieving the best possible results for its clients and class members. In fact, the government makes no allegation - nor could it - that the firm did not provide first rate, highest quality legal services to every one of its clients.

The firm is committed to continuing the zealous representation of its clients and has the attorneys, personnel, and resources to do so.

Milberg Weiss was founded in 1965 and was one of the first law firms to prosecute class actions in federal courts on behalf of investors and consumers. The firm pioneered this type of litigation and is now widely recognized as the nation's leading defender of the rights of victims against corporate and other large-scale wrongdoing. Recent litigation results include: Lucent Technologies Securities Litigation ($600 million recovery); Raytheon Co. Securities Litigation ($460 million recovery); Managed Care Litigation (recoveries over $1 billion and major changes in HMO practices); NASDAQ Market Makers Antitrust Litigation ($1 billion recoveries); Initial Public Offering Securities Litigation (partial settlements for guaranteed minimum of $1 billion); Holocaust Slave Labor and Victim Assets Litigation (pro bono representation leading to recoveries of approximately $7 billion); September 11 Victim Compensation Fund (pro bono representation of claimants from government fund).

[Octafish]

7. No stone unturned.

Waive attorney-client privilege in all those Halliburton-KBR-related asbestos suits AND the 9-11 case? Let the Just-Us department in on what plaintiffs are thinkning and they're turdy campaign contributors will never lose a dime. And to think some people don't believe there's a BFEE.

Thanks a republic, Capt. Not-so Old and In the Way.

[w4rma]

12. Looks like Reuters didn't bother to get a response from the law firm.

I'm not surprised.

[Up2Late]

14. Incredible, I knew it had to be something like this. So what do you think

...the underlying goal of this BS persecution?

An attempt to discredit ALL Class Action Law firms, or is this more focused on discrediting this firm?

[Old and In the Way]

15. Probably both.

Not only are they the industry leaders in filing class action suits against the big corporate abusers, but they are heavily Democratic in their politics. A two-fer, I think.

[bemildred]

8. So what? Is that supposed to be some sort of crime?

I've never given a nickel to a Republican.
:puke:

[MGKrebs]

9. Milberg Weiss fired by Ohio attorney general

NEW YORK (Reuters) - Ohio Attorney General Jim Petro on Friday fired Milberg Weiss Bershad & Schulman LLP as special counsel on a class-action lawsuit, a day after a federal grand jury indicted the firm for orchestrating a kickback scheme, a spokesman for Petro said.

http://abcnews.go.com/Business/wireStory?id=1982898

This isn't related to the coin scandal thing is it? I think Petro is a Repub.

[stepnw1f]

10. How's Jack Abramoff Doing?

See you at the polls. Good luck with the smearing.

[MGKrebs]

11. Spitzer...will return $124,455 in campaign contributions from Milberg Weis

Also:

OTTA, the Ohio college-savings plan, is a lead plaintiff in 300 suits consolidated in federal court in Baltimore that accuse fund managers at companies such as Putnam, a unit of Marsh & McLennan Cos., Janus Capital Group Inc., Franklin Resources Inc. and Invesco Funds Group of engaging in or allowing improper short-term and late trading.

Experts say those trading tactics may have drained more than $5 billion a year from long-term fund investors.

"...most of Milberg Weiss's clients are union pension funds,'' Coffee noted. ``It may hold onto them much better because I think the unions are more likely to be sympathetic and to believe this to be a politically motivated attack on the plaintiff's bar.''

http://quote.bloomberg.com/apps/news?pid=10000006&sid=atQ.qgpksxmI&refer=home

[Orangepeel]

17. Duh. They're trial lawyers.

Of course they gave most of their donations to Democrats.

I don't know exactly what they are accused of, but "fraud from lawsuits" doesn't sound related to their political donations. Anyhow, it can't be worse than Enron.