@prefix dbpedia-owl: . @prefix dbpedia: . dbpedia:The_Concretes dbpedia-owl:associatedBand dbpedia:Milberg ; dbpedia-owl:associatedMusicalArtist dbpedia:Milberg . @prefix ns2: . dbpedia:The_Concretes ns2:associatedBand dbpedia:Milberg ; ns2:associatedMusicalArtist dbpedia:Milberg . @prefix dbpprop: . dbpedia:The_Concretes dbpprop:associatedActs dbpedia:Milberg . @prefix owl: . dbpedia:Milberg owl:sameAs . @prefix foaf: . @prefix ns6: . dbpedia:Milberg foaf:page ns6:Milberg ; dbpprop:reference . @prefix rdfs: . dbpedia:Milberg rdfs:label "Milberg"@en ; dbpprop:abstract "Founding and History Founded in 1965 by attorneys Larry Milberg and Melvyn I. Weiss, Milberg LLP (formerly known Milberg Weiss LLP and Milberg Weiss Bershad & Schulman LLP) is a U.S. plaintiffs' law firm. In the Firm\u2019s early years, its founding partners built a new area of legal practice in representing shareholders\u2019 interests under the then recently amended Rule 23 of the Federal Rules of Civil Procedure, which allowed securities fraud cases, among others, to proceed as class actions. Based in New York Cityand with offices in Los Angeles, Tampa and Detroit, Milberg is widely known as one of the first law firms to represent investors and consumers in class actions in federal courts. Before its split in May 2004 with the firm now known as Coughlin Stoia Geller Rudman & Robbins LLP, it was the largest plaintiff law firm in the United States, with over 200 attorneys and a leader in its field, responsible, at least in part, for over 50 percent of all securities class action cases settled in 2002. Significant Milestones Significant milestones in the Firm\u2019s history include its involvement in the U.S. Financial litigation in the early 1970s, one of the earliest large class actions, which resulted in the $50 million recovery for purchasers of the securities of a failed real estate development company; the Ninth Circuit decision in Blackie v. Barrack in 1975, which established the fraud-on-the-market doctrine for securities fraud actions; the Firm\u2019s co-lead counsel position in the In re Washington Public Power Supply System (WPPSS) Securities Litigation, 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 \u201Cdaisy chain\u201D of illicit junk-bond financing arrangements with numerous cases that resulted in substantial recoveries for investors; and representing life insurance policyholders defrauded by \u201Cvanishing premium\u201D and other improper sales tactics and obtaining large recoveries from industry participants. Litigation Results Milberg\u2019s litigation results include: Tyco International Ltd. Securities Litigation - $3.2 billion settlement; Nortel Networks Litigation - settlement for cash and stock valued at $1.142 billion; Lucent Technologies Securities Litigation - $600 million recovery; Raytheon Co. Securities Litigation - $460 million recovery; Managed Care Litigation - recoveries over $1 billion and major changes in HMO practices; WPPSS litigation - settlements totaling $775 million; and NASDAQ Market Makers Antitrust Litigation - $1 billion recoveries . Milberg has been responsible for recoveries valued at approximately $50 billion during the life of the firm. Controversy On May 18, 2006, the firm and two of its named partners, David J. Bershad and Steven G. Schulman (Schulman resigned in December 2006), were indicted by United States Attorney Debra Wong Yang of the United States District Court for the Central District of California on various counts, including racketeering, mail fraud, and bribery. The charges include claims that Milberg Weiss paid portions of its legal fees to plaintiffs in order to induce them to sue. 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). Four longtime Milberg Weiss partners pled guilty to federal charges, including Steven Schulman, David Bershad, William Lerach, and Melvyn Weiss. On March 20, 2008, Melvyn Weiss announced through his attorney that he would plead guilty in exchange for an 18 to 33 month prison sentence and fines and restitution of $10 million. On Monday February 11, 2008, 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 will pay $250,000 in fines and forfeit $7.75 million. Bershad was sentenced to six months of incarceration in October 2008. On June 16, 2008, U.S. prosecutors in Los Angeles agreed to dismiss the indictment against the firm, under a non-prosecution agreement that requires Milberg to pay $75 million to settle the charges. Mel Weiss was sentenced to 30 months of incarceration on Monday June 2 2008, and is currently incarcerated at the federal minimum security institution known as CCM MIAMI in Miami, Florida, with a projected release date of February 6, 2010. Bershad was released from custody on July 2, 2009, and Schulman was released on July 10, 2009. Lerach is scheduled for release on March 8, 2010."@en ; rdfs:comment "Founding and History Founded in 1965 by attorneys Larry Milberg and Melvyn I. Weiss, Milberg LLP (formerly known Milberg Weiss LLP and Milberg Weiss Bershad & Schulman LLP) is a U.S. plaintiffs' law firm. In the Firm\u2019s early years, its founding partners built a new area of legal practice in representing shareholders\u2019 interests under the then recently amended Rule 23 of the Federal Rules of Civil Procedure, which allowed securities fraud cases, among others, to proceed as class actions."@en . @prefix skos: . @prefix ns9: . dbpedia:Milberg skos:subject ns9:Law_firms_established_in_1965 , ns9:Corporate_scandals , ns9:Law_firms_based_in_New_York_City . dbpedia:Milberg_Weiss dbpprop:redirect dbpedia:Milberg . dbpprop:redirect dbpedia:Milberg . dbpedia:Milberg_weiss dbpprop:redirect dbpedia:Milberg . dbpedia:Milberg_LLP dbpprop:redirect dbpedia:Milberg . dbpprop:redirect dbpedia:Milberg .