Wednesday, May 17, 2006

LAW FIRM FACES indictment -- Following a 6-year probe into illegal payments to clients by class-action giant Milberg Weiss: "Negotiations to avert an indictment of the firm have stepped up in recent weeks. But by this week, hopes for a settlement were quickly fading as both sides remain far apart on several crucial points surrounding any so-called deferred prosecution agreement, including the waiver of client-attorney privileges; new compliance and monitoring systems and personnel the firm would be required to put in place; and the size of any potential payments, according to several lawyers involved in the talks."