Milberg Weiss has been in the news frequently as of late. Following the indictment of the class action law firm and two of its partners, some of the firm’s clients elected to retain new counsel to prosecute their class actions. Now, Nathan Koppel and Peter Lattman report that partners are jumping ship as well. According to the article, “eight of the firm’s 46 partners have announced their departure, along with some associates.”
More surprisingly, the Wall Street Journal reports that the U.S. Attorney’s Office has been investigating the law firm since at least 1999, and that it was served subpoenas in 2002. The articles quotes U.S. Attorney Debra Yang as saying that Milberg Weiss’s last-minute remedial efforts were “almost a knee-jerk response to the notion that they’re about to get indicted.” The article by Koppel and Lattman, “Milberg Weiss Partners, Clients Defect as Firm’s Woes Multiply,” may be found in the June 3, 2006, Wall Street Journal.