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: Legal Pad | LA

Two ex-Milberg partners sue partners convicted in kickback scheme

By Jason Siegel

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Two former Milberg partners are suing four of the firm's former leaders, claiming their participation in a scheme that paid kickbacks to class action plaintiffs was a breach of fiduciary duty to their partners, The New York Law Journal reported.

Former antitrust partners Douglas Richards and Michael Buchman filed separate pro se complaints Melvyn Weiss, William Lerach, Douglas Bershad and Steven Schulman on Tuesday, a day after Milberg agreed to pay $75 million in fines to have the criminal charges dropped over its role in the kickback scheme.

Each suit seeks $3 million in damages.

Richards told the NYLJ that the suit may be the first of many to come against the four former partners.

Full post as published by Legal Pad | LA on June 18, 2008 (boomark / email).

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