It’s been a few weeks since our last report on the much-maligned Milberg Weiss. So here’s the latest news about the plaintiff’s class-action firm that everyone loves to hate:

The bleeding continues at Milberg Weiss Bershad & Shulman. [Last] week, four partners — Bruce Bernstein, Brian Kerr, Dan Scotti and Lee Weiss — announced they were leaving. The lawyers are heading to New York’s Dreier LLP, which represents defendants and plaintiffs in securities litigation. The news was confirmed by Mark Dreier, the firm’s managing partner, who says the Milberg transplants will create a class-action group for their new firm. “Primarily, they will look for opportunities to do plaintiffs work,” he says. The four attorneys did not return calls for comment.

We’re not that familiar with the Dreier firm — don’t they make ice cream or something? But it does strike us as odd that the firm represents plaintiffs and defendants in securities cases. Sounds like a recipe for client conflicts.
Milberg Weiss Watch: The Bleeding Continues [WSJ Law Blog]


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