Published on:

Plaintiff Class Action Lawyer Steven Schulman Of Milberg Weiss Pleads Guilty To Federal Racketeering Charge

Michael Parrish of the New York Times reports that class action plaintiff lawyer Steven Schulman, formerly a named-partner at the plaintiff class action law firm now known as Milberg Weiss, has pleaded guilty to a federal racketeering conspiracy charge. According to Parrish’s article, Schulman “admitted in federal court to being part of a scheme in which the firm, known for its class-action lawsuits against companies, gave secret kickbacks to individuals who remained on call to act as lead plaintiffs.” Schulman is reportedly cooperating with federal prosecutors, and “agreed to forfeit $1.85 million in profit, pay a $250,000 fine and accept a prison sentence.” While Schulman could be sentenced to upwards of 20 years, Parrish reports that the sentence is expected to fall within the range of 27-33 months.

Mr. Parrish’s article, entitled “Ex-Partner at Law Firm Pleads Guilty in Kickback Case,” may be found in the October 10, 2007 edition of the New York Times.