Milberg

Melvyn Weiss convinced his partner, Lawrence Milberg, to fund class-action securities litigation against Dolly Madison Industries. Dolly Madison acquired at least 30 companies over an 18-month period. Dolly Madison was allegedly facilitating these deals by falsifying its balance sheet to artificially increase its stock price. Weiss and Milberg thought they could win a large payout from Dolly Madison's accounting firm, Touche Ross and Co., a "big eight" firm in the 1960s. Like most defendants in class actions, Dolly Madison delayed as long as possible and the case did not go to trial until 1973. Shortly before a verdict was rendered Touche settled for $2 million, resulting in a $500,000 fee for Milberg.{{cite book|last1=Coffee|first1=John|title=Entrepreneurial Litigation|date=2015|publisher=Harvard University Press|location=Cambridge, Massachusetts and London, England|isbn=9780674736795}}

In May 2004, Milberg was the largest plaintiff law firm in the United States, with over 200 attorneys, responsible, at least in part, for over 50 percent of all securities class action cases settled in 2002.{{Cite web|url=http://securities.stanford.edu/Settlements/REVIEW_1995-2002/Through2002.pdf|archive-url=https://web.archive.org/web/20060712194228/http://securities.stanford.edu/Settlements/REVIEW_1995-2002/Through2002.pdf|title=1995–2003 Securities Settlements Review (pdf)|archive-date=July 12, 2006}}

Following a significant downsizing in 2006 and 2007, the firm had 53 attorneys as of June 2008.[https://www.nytimes.com/2006/05/18/us/18cnd-legal.html?ex=1305604800&en=b01b688a560ca3d5&ei=5088&partner=rssnyt Milberg Weiss Is Charged With Bribery and Fraud], Julie Creswell, The New York Times, May 18, 2006.[https://online.wsj.com/public/resources/documents/milbergpress05182006.pdf U. S. Department of Justice press release].{{Cite news |author=Peter Elkind |date=November 3, 2006 |title=The fall of America's meanest law firm: Milberg Weiss, the lawsuit factory that took corporations for $45 billion, is in the feds' cross hairs. |url=https://money.cnn.com/magazines/fortune/fortune_archive/2006/11/13/8393127/?postversion=2006103111 |work=Fortune}}{{Cite news |date=June 30, 2005 |title=Class-action lawsuits |url=http://www.economist.com/finance/displaystory.cfm?story_id=E1_QTPSTRN |newspaper=The Economist}} The firm was extensively restructured over the subsequent years.

In 2018, Milberg merged with Sanders Philips Grossman, a mass tort firm known for its class action lawsuits against pharmaceutical companies, to form Milberg Tadler Phillips Grossman.{{cite web|url=http://www.abajournal.com/news/article/milberg_sanders_philips_grossman|title=Milberg joins forces with mass tort firm Sanders Philips Grossman|first=Lorelei|last=Laird|publisher=ABA Journal|date= 8 January 2018|access-date= 19 December 2019}}{{cite web|url=http://www.globallegalpost.com/big-stories/class-action-law-firm-milberg-joins-forces-with-pharmaceutical-litigation-law-firm-62001433/|title=Class action law firm Milberg joins forces with pharmaceutical litigation law firm|publisher=Global Legal Post|date=8 January 2018|access-date=23 December 2019}}{{cite web|url=https://www.law.com/americanlawyer/sites/americanlawyer/2018/01/08/milberg-joins-forces-with-mass-torts-personal-injury-firm/?slreturn=20191123111352|title=Milberg Joins Forces With Mass Torts, Personal Injury Firm|first=Scott|last=Flaherty|date=8 January 2018|access-date=23 December 2019}} In 2019, former partner Steven Schulman sued the firm, and settled.https://www.law.com/newyorklawjournal/2019/06/11/former-partner-reaches-confidential-deal-with-milberg-in-15m-payment-dispute/{{cite web|url=https://www.law.com/newyorklawjournal/2019/05/08/milberg-claims-firm-cheated-out-of-12m-fee-in-argentine-bond-case/|title=Milberg Claims Firm Cheated Out of $12M Fee in Argentine Bond Case|first=Jack|last=Newsham|date=8 May 2019|publisher=New York Law Journal|access-date=23 December 2019}} In 2021, Milberg Phillips Grossman LLP partnered with Greg Coleman Law PC and Whitfield Bryson LLP to form Milberg Coleman Bryson Phillips Grossman, PLLC.{{Cite web|url=https://www.law.com/newyorklawjournal/2021/01/05/milberg-mergers-with-3-plaintiff-firms-to-form-international-law-practice/|title=Milberg Merges With 3 Plaintiff Firms to Form International Law Practice | New York Law Journal}} The firm opened its first international office in the United Kingdom in 2019. Milberg London was ranked as Band 2 in Chambers and Partners’ category of ‘Group Litigation: Claimant’ in 2023.{{Cite web|url=https://chambers.com/department/milberg-london-llp-group-litigation-claimant-uk-1:3446:11805:1:23285664|title=Milberg London LLP, Group Litigation: Claimant | Chambers UK Profile|website=chambers.com}}

The firm's offices are located in New York, London, California, Georgia, Mississippi, Washington, Tennessee, Florida, North Carolina, South Carolina, Kentucky, Louisiana, and Puerto Rico.{{Cite web|url=https://apnews.com/article/business-race-and-ethnicity-new-york-north-carolina-human-rights-and-civil-liberties-7ac2fbe7f1806281158d625545ebfec7|title=Milberg Wins $11.1 Million Verdict For IBM Sales Manager Fired After Reporting Bias|date=April 16, 2021|website=AP News}}

On May 18, 2006,[https://www.nytimes.com/2006/05/18/us/18cnd-legal.html?ex=1305604800&en=b01b688a560ca3d5&ei=5088&partner=rssnyt Milberg Weiss Is Charged With Bribery and Fraud], Julie Creswell, The New York Times, May 18, 2006.[https://online.wsj.com/public/resources/documents/milbergpress05182006.pdf U. S. Department of Justice press release]. the firm and two of its named partners, David J. Bershad and Steven G. Schulman (Schulman resigned in December 2006), were indicted by a grand jury in the United States District Court for the Central District of California on various counts, including racketeering, mail fraud, and bribery. The charges included claims that Milberg Weiss paid portions of its legal fees to plaintiffs in order to induce them to sue.{{Cite news|url= https://money.cnn.com/magazines/fortune/fortune_archive/2006/11/13/8393127/?postversion=2006103111 |title=The fall of America's meanest law firm: Milberg Weiss, the lawsuit factory that took corporations for $45 billion, is in the feds' cross hairs. |work=Fortune |date= November 3, 2006 |author= Peter Elkind |quote= …Milberg Weiss and the two outsized personalities who ruled the place, Mel Weiss and Bill Lerach… has been indicted for allegedly paying three plaintiffs $11.4 million in illegal kickbacks in about 180 cases spanning 25 years - and then repeatedly lying about it to the courts.}}{{Cite news|url= http://www.economist.com/finance/displaystory.cfm?story_id=E1_QTPSTRN |title= Class-action lawsuits |newspaper= The Economist |date=June 30, 2005}} By January 2007, more than half of the firm's partners had left the firm. As of June 2008, the firm's website lists only 53 full-time attorneys (29 partners and 24 associates).

On June 16, 2008, U.S. prosecutors in Los Angeles dismissed the indictment against the firm, under a non-prosecution agreement, and a statement by the government that "no attorney currently a partner or associate with Milberg LLP is criminally culpable" with respect to conduct charged in the indictment. Milberg agreed to pay $75 million to settle the charges.{{cite web| url = http://www.law.com/jsp/article.jsp?id=1202422319517&slreturn=1&hbxlogin=1| title = Law.com}}

However, four longtime Milberg Weiss partners pleaded guilty to federal charges, including Steven Schulman, David Bershad, William Lerach, and Melvyn Weiss. Melvyn Weiss pleaded guilty in exchange for an 18- to 33-month prison sentence and fines and restitution of $10 million.{{Cite news|url=https://www.reuters.com/article/telecomm/idUSN2040163220080321|title=US shareholder lawyer Melvyn Weiss to plead guilty|work=Reuters|date=March 21, 2008|author=Martha Graybow}} Lerach was sentenced to two years in federal prison, two years' probation, fined $250,000 and ordered to complete 1,000 hours of community service. Bershad paid $250,000 in fines and forfeited $7.75 million. Bershad was sentenced to six months of incarceration in October 2008.{{Cite news|url=http://news.cnet.com/8301-10784_3-9741167-7.html |title=One of the lawyers Silicon Valley loves to hate |work=CNET News.com |date=July 9, 2007 |author=Dawn Kawamoto |archive-url=https://archive.today/20120719081819/http://news.cnet.com/8301-10784_3-9741167-7.html |archive-date=July 19, 2012 |url-status=dead}}

Weiss was sentenced to 30 months of incarceration on Monday June 2, 2008.{{Cite news |url=https://www.bloomberg.com/apps/news?pid=20601087&sid=aGqfpC4ZjoAw&refer=home |title= Weiss Sentenced to 2½ Years for Kickback Scheme (Update1) |author=Edvard Pettersson |work=Bloomberg L.P. |date=June 2, 2008 |quote=Weiss, 72, must also forfeit $9.75 million and pay a fine of $250,000. He pleaded guilty April 2 to racketeering conspiracy, admitting he helped secretly pay a stable of plaintiffs to file suits from 1979 through 2005. By using them to sue first, the firm was more likely to lead cases and reap larger fees.}} He was released in February 2010. Bershad was released from custody on July 2, 2009, and Schulman was released on July 10, 2009. Lerach was released on March 8, 2010.

In the early 1970's, Milberg was involved in a securities class action concerning U.S. Financial, which led to a $50 million recovery related to alleged fraud by a real estate development company.

Other cases included the Ninth Circuit decision in Blackie v. Barrack{{cite web|author1=United States Court of Appeals, Ninth Circuit|title=524 F2d 891 Blackie v. Barrack Ampex Corporation|url=http://openjurist.org/524/f2d/891|language=en|date=31 December 1969|volume=F2d |issue=524 |page=891 }} in 1975, which established the fraud-on-the-market doctrine for securities fraud actions; the Firm's co-lead counsel position in the In re Washington Public Power Supply System (WPPSS) Securities Litigation,{{cite web|title=Banken und Finanzprodukte im Vergleich - BankVergleich.com|url=http://altlaw.org/v1/cases/458192|website=BankVergleich.com|language=de-DE}} a seminal securities fraud action in the 1980s in terms of complexity and amounts recovered; the representation of the Federal Deposit Insurance Corp. in a year-long trial to recover banking losses from a major accounting firm, leading to a precedent-setting global settlement; attacking the Drexel-Milken "daisy chain" of illicit junk-bond financing arrangements with numerous cases that resulted in substantial recoveries for investors;{{cite web|title=Master File No. C-05-1219 MMC|url=http://securities.stanford.edu/filings-documents/1034/ERTS05_01/2005527_f18d_05CV01219.pdf|website=SCAC {{!}} Securities Class Action Clearinghouse}} and representing life insurance policyholders defrauded by "vanishing premium" and other improper sales tactics and obtaining large recoveries from industry participants. Milberg's attorneys also argued another important case in 2007 before the high court in Tellabs Inc. v. Makor Issues & Rights Ltd.{{cite web| url = http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=900005484350| title = Corporate Defendants Prevail at High Court {{!}} New York Law Journal}}

Milberg was co-lead counsel in a securities fraud class action case against French conglomerate Vivendi. After nearly eight years of litigation, the case was tried to a jury for three months in late 2009, and resulted in a verdict for plaintiffs in January 2010. The jury found Vivendi liable for 57 false or misleading class period statements. Even with claimants who made foreign purchases removed from the class after the Supreme Court's Morrison v. National Australia Bank decision, total damages claims exceeded $1 billion.{{cite news| url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOBtwkB_7Owg | work=Bloomberg | title=Vivendi Wins Ruling Limiting Class-Action Fraud Verdict (2) | date=February 22, 2011}}

Also in 2010, Milberg won a victory before the United States Supreme Court, which issued a decision (Merck & Co., Inc. v. Reynolds) addressing when an investor is placed on "inquiry notice" of securities fraud violation sufficient to trigger the statute of limitations under 28 U.S.C. § 1658(b).{{cite web|title=Merck & Co., Inc. v. Reynolds - SCOTUSblog|url=http://www.scotusblog.com/case-files/cases/merck-co-inc-v-richard-reynolds-2|website=SCOTUSblog}}

On August 24, 2011, the U.S. District Court for the Southern District of New York approved a $180 million settlement to resolve antitrust claims brought by a class of consumers, represented by Milberg, against Sirius XM Radio. The case stems from the 2008 merger between Sirius Satellite Radio, Inc. and XM Satellite Holdings, Inc. that created Sirius XM, now the nation's only satellite radio company. The plaintiffs alleged that the merger of the only two U.S. satellite radio providers was an illegal move to eliminate competition and monopolize the satellite radio market.[https://web.archive.org/web/20111011132854/http://businesslawdaily.net/2011/08/26/judge-approves-sirius-settlement/ Judge Approves Sirius Settlement].

Milberg represented a healthcare worker in a whistleblower suit against his former employer Medline Industries, along with its charitable arm, The Medline Foundation. The Firm negotiated an $85 million settlement on behalf of the federal government, announced on March 11, 2011. The suit was filed under the False Claims Act ("FCA"), which allows private citizens to sue companies that are defrauding the government and to receive an award for their efforts when the case is successful. Although a party to the settlement agreement, the U.S. Department of Justice chose not to intervene in the lawsuit. Milberg pursued the case and obtained one of the largest settlements of an FCA case in which the government declined to intervene.{{cite news| url=https://www.reuters.com/article/medline-kickback-settlement-idUSN1125081920110311 | work=Reuters | title=Medline settles Medicare kickback case for $85 mln | date=March 11, 2011}}{{cite web | url=http://www.lawyersandsettlements.com/articles/qui-tam-whistleblower-government-fraud/interview-qui-tam-whistleblower-lawsuit-8-16329.html | title=$23.4 Million for Medical Sales Exec Who Blew the Whistle }}

On April 15, 2021, Milberg received a $11.1 million verdict on behalf of client Scott Kingston, who alleged IBM wrongfully terminated him after raising claims of racial bias in the treatment of his subordinates. The award was recognized as one of the top-ten verdict of the year in Top Verdict's Labor & Employment Category.{{Cite web|url=https://topverdict.com/lists/2021/united-states/top-10-labor-employment-verdicts|title=Top 10 Labor & Employment Verdicts in the United States in 2021 - TopVerdict.com|website=topverdict.com}}

In 2022, Milberg successfully won $50 million in a California oil spill lawsuit against Amplify Energy, the operator of a pipeline that spilled thousands of gallons of crude oil into the Pacific Ocean.{{Cite web|url=https://www.reuters.com/legal/litigation/pipeline-co-agrees-pay-50-mln-settle-california-oil-spill-class-action-2022-10-18/|title=Pipeline co agrees to pay $50 mln to settle California oil spill class action|first=Clark|last=Mindock|date=October 18, 2022|via=www.reuters.com}} Other notable cases in 2022 include winning a dam collapse case in Brazil{{Cite web|url=https://milberg.com/news/brazil-dam-collapse-lawsuit-appeal/|title=Court Ruling Paves Way For Brazil Dam Collapse Lawsuit to Proceed|website=Milberg | Leading Class Action Law Firm}} and representing FanCentro in a lawsuit against rival company OnlyFans.{{Cite web|url=https://www.bbc.com/news/world-60029508|title=OnlyFans accused of conspiring to blacklist rivals|date=February 22, 2022|via=www.bbc.com}} Milberg also represented dozens of plaintiffs in a case against the Tennessee Valley Authority in 2022.{{Cite web|url=https://www.reuters.com/legal/government/tva-contractor-cant-ditch-3-bln-suit-by-coal-ash-cleanup-workers-6th-circ-2022-05-19/|title=TVA contractor can't ditch $3 bln suit by coal-ash cleanup workers – 6th Circ|first=Barbara|last=Grzincic|date=May 19, 2022|via=www.reuters.com}}

In November 2022, Milberg brought suit against ExxonMobil, Chevron, Royal Dutch Shell and BP, accusing the fossil fuel giants of misrepresenting the dangers of their carbon-based products. Milberg represents 16 municipalities in Puerto Rico seeking damages for the devastating impact of Hurricane Maria and other storms.{{Cite web|url=https://www.nytimes.com/2023/07/19/climate/climate-lawsuit-puerto-rico.html|title=She's on a Mission From God: Suing Big Oil for Climate Damages|first1=David|last1=Gelles|first2=Erin|last2=Schaff|date=July 19, 2023|via=NYTimes.com}}{{Cite web|url=https://www.reuters.com/legal/litigation/puerto-rican-towns-sue-big-oil-under-rico-alleging-collusion-climate-denial-2022-11-29/|title=Puerto Rican towns sue Big Oil under RICO alleging collusion on climate denial|first=Clark|last=Mindock|date=November 29, 2022|via=www.reuters.com}}

In January 2023, Milberg helped reach a $106 million settlement with the City of Charlotte over Charlotte Water's ability to charge development fees prior to 2017 and the methodology used to determine how much developers would pay in order to comply with state law. Milberg argued Charlotte Water's charges were ultra vires, or beyond its powers.{{Cite web|url=https://www.wcnc.com/article/money/charlotte-water-lawsuit-money-local/275-f682c607-2a9a-4e00-8ec9-317155172367|title=City of Charlotte loses one lawsuit, settles on second suit over water system fees with real estate developers|date=January 20, 2023|website=wcnc.com}}

In May 2023, Milberg reached a confidential settlement with Jacobs Solutions on behalf of workers sickened during the cleanup of a coal ash spill in East Tennessee. Tennessee Valley Authority (TVA) contracted Jacobs Solutions to enforce sitewide safety and health. Milberg twice made law in the 6th U.S. Circuit Court of Appeals in the case, first by winning a general causation verdict and then by raising the possibility that TVA and other coal ash producers could face similar lawsuits in the future.{{Cite web|url=https://www.knoxnews.com/story/news/local/tennessee/tvacoalash/2023/05/23/kingston-coal-ash-settlement-what-it-means-workers-jacobs-solutions/70246544007/|title=Kingston coal ash settlement: What it means for the cleanup workers who sued|website=Knoxville News Sentinel}}

• Lexecon Inc. v. Milberg Weiss Bershad Hynes & Lerach
• Mauldin v. Wal-Mart Stores, Inc.

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• [http://www.milberg.com/ Milberg firm homepage]

Category:Law firms established in 1965

Category:Law firms based in New York City

Category:Law firms based in London