Critics long derided the federal investigation of Milberg Weiss as slow to produce results, but things are moving along at a brisk clip now, with an indictment charging the nation’s best-known class-action securities lawyer with conspiracy, racketeering, obstruction of justice and making false statements, just after his best-known former colleague at the firm, William Lerach, agreed to cop a plea deal. “In addition, Steven G. Schulman, a former senior partner at the Milberg Weiss firm, agreed to plead guilty to a racketeering conspiracy charge, prosecutors said.” (AP/Business Week; Jurist “Paper Chase”; ABA Journal first and second stories. Documents, all PDF: Milberg Weiss superseding indictment; Schulman charge, plea, press release).
The Sirota & Sirota law blog, an “unfriendly competitor” of Milberg Weiss in the class-action biz, has this post from June offering some perspective on the ongoing investigation.
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What’s racketeering?
I mean, as in, what is the kind of conduct needed to be proven for a conviction on this?
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