“Milberg Weiss, Two Name Partners Indicted”

Well, this isn’t good news:

"After a six-year investigation, federal prosecutors in Los Angeles have indicted the New York securities class action firm Milberg Weiss Bershad & Schulman and two of its name partners.

"The charges against partners David Bershad and Steven Schulman of conspiring to make illegal payments to clients in class actions — and to conceal those payments — have been widely expected for months, and the two partners took a leave of absence from the firm last week.

"Yet it only became clear over the last few weeks that similar charges would be levied against the Milberg firm…."