Wednesday, July 26, 2006

N.Y. Judge Appoints Milberg Co-Lead Counsel in Backdating Suit

Stating that the firm's indictment had no bearing on its ability to handle its responsibilities as lead counsel, Manhattan Supreme Court Justice Richard Lowe appointed Milberg Weiss as lead counsel in a series of cases brought against voicemail software company Comverse Technology, Inc., whose top executives allegedly enriched themselves by almost $400 million by repricing stock option grants.

Readers will recall that Milberg Weiss and two of its partners were indicted in May on charges that they paid kickbacks to class action plaintiffs. All pleaded not guilty.
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