New York Times on Milberg Weiss, lead counsel manuevers

Posted by lukegilman

June 6, 2006

The New York Times is running background on the upcoming case U.S. v. Milberg Wiess (.pdf) in which Vogel, a Florida real estate developer intentionally invested in stocks of a particular company in the belief that it was on the verge of collapse. This was a rational thing for Vogel to do only because the resulting losses were the real investment, enabling him (with others) to have a shot at being the ‘largest loser’ in the case, and under securities law, naming his lawyer to the lucrative lead counsel position. Milberg Weiss apparently then compensated Vogel, illegally, from a cut of the law firms fees.

Link: For Law Firm, Serial Plaintiff Had Golden Touch

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