"The four lawyers who ran Milberg Weiss Bershad Hynes & Lerach LLP, the firm that got investors $45 billion from securities lawsuits against publicly traded companies, are reacquainting themselves with life on the outside now that they've left prison" as reported by Carlyn Kolker for Bloomberg:
"I am enjoying my freedom," Melvyn I. Weiss, 74, said in a phone interview from his apartment in Boca Raton, Florida. * * * His former partner, William S. Lerach, 64, was freed March 8. Two others, David J. Bershad, 70, and Steven G. Schulman, 58, left prison in July. Prosecutors said the men, who industrialized the filing of securities fraud class actions, secretly paid clients to pursue such cases, bringing the firm $251 million in attorney fees from 1979 and 2005. All four pleaded guilty. Their old firm, now Milberg LLP, agreed to pay $75 million to end the case. Milberg, based in New York, used intermediaries to pay clients who would serve as plaintiffs in shareholder lawsuits, the government said.