Posted on 10/17/2007 6:07:43 PM PDT by LdSentinal
Over the years, as it became Exhibit A for critics of shareholders’ class-action lawsuits, the law firm of Milberg Weiss often enjoyed the support of Democrats who called the suits an invaluable weapon in the universal conflict between big business and the little guy.
The Democrats, in turn, enjoyed the support of Milberg Weiss and its partners, who together contributed more than $7 million to the party’s candidates since the 1980s.
Last year, the firm was indicted on federal charges of fraud and bribery. But the political partnership has not been entirely severed. Since the indictment, 26 Democrats around the country, including four presidential candidates, have accepted $150,000 in campaign contributions from people connected to Milberg Weiss, according to state and federal campaign finance records. And some Democrats have taken public actions that potentially helped the firm or its former partners.
The recent contributors include current and former Milberg partners who had either been indicted or were widely reported to be facing potential criminal problems when they wrote their checks. One of them, William S. Lerach, was a fund-raiser for John Edwards’s presidential campaign until his guilty plea last month. Melvyn I. Weiss, a founder of the firm, gave the maximum $4,600 to Senator Hillary Rodham Clinton in June. Other firm members contributed to the presidential campaigns of Senators Barack Obama and Joseph R. Biden Jr.
Milberg Weiss reaped billions of dollars in legal fees over four decades as the acknowledged king of class-action lawsuits, which accused executives of misleading investors with erroneous financial statements or some other fraud. According to the indictment, the New York-based firm ran a “racketeering enterprise” that collected a quarter billion dollars from 250 of the firm’s cases in which people were paid secret kickbacks for serving as plaintiffs.
(Excerpt) Read more at nytimes.com ...
My My My. Its in the times and it will still get no traction I bet.
Should we believe this? It is from the Noo Yawk Slimes, after all.
Isn’t this the firm in which NYS’s Assembly Leader Shelly Silver is a partner? IIRC Shelly had to call off the hounds to drop lawsuits against the NYS park system telling people how to sue the parks for injuries sustained while camping. No conflict of interest there, eh?
My, my, my, the culture of democrat corruption. O Dear, O Dear
Story is here today, dead tonight.
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