Investigation Seeks To Identify Clients Dissatisfied With The Legal Representation Of Milberg Weiss

PRLog (Press Release) – Apr 28, 2007 – Theodore A. Bechtold Esq. has been working to have the Federal Court remove Milberg Weiss and Bershad from the IPO Securities Litigation.  The conflicts and distractions which justify the removal of the firm from those 309 cases are clearly relevant to the evaluation of Milberg Weiss and Bershad’s ability to provide fair and adequate representation to Class members in each of the dozens of cases they remain in control of.  In each case where Milberg Weiss and Bershad serves as lead counsel the racketeering indictment of the firm and its partners, upcoming criminal trial of the century and actual and potential conflicts of interest raise legal and ethical questions which could result in the firms disqualification and removal as lead counsel.  

Class members in cases where Milberg Weiss and Bershad is lead counsel have a right to ask the Court to appoint new lead counsel if they are not satisfied with the representation provided by the firm or simply don’t want an indicted law firm running their case.  While the response of any particular Court to any specific request by one or more Class members is always uncertain, Class members are legally entitled to ask for and receive fair and adequate legal representation.

The ongoing distraction and continuing conflicts resulting from the indictment and upcoming high profile criminal trial of the firm and its partners create a situation where Courts may be ready to decide that fair and adequate representation by Milberg Weiss and Bershad is just not possible under the present circumstances.  The only thing required to provide each Court with an opportunity to make this important decision is for at least one Class member in each case to step forward and ask the question.  Any Class member can fulfill this important role regardless of whether they lost one dollar or one million dollars.  

Almost one year after Milberg Weiss and Bershad and its partners were indicted as racketeers the firm remains in control of dozens of cases with a responsibility to exercise fiduciary duties on behalf of millions of class members.  During this time Milberg Weiss and Bershad has directed Supreme Court appeals that will have great effect on the future of plaintiff rights in all securities litigation.  A criminal trial of Milberg Weiss and Bershad and its partners will surely be followed by an exhaustive appeal process, providing no foreseeable end to the distraction of ongoing criminal proceedings.  The fundamental importance of the presumption of innocence for criminal defendants does not create a right for conflicted, indicted lawyers to remain as class counsel.  Lead counsel authorized by Federal Courts to represent the investing public should not involve such monumental distractions and disqualifying conflicts.

Class members in any case where Milberg Weiss and Bershad serves as lead counsel are encouraged to contact Theodore A. Bechtold, Esq. to discuss your legal rights.  You may retain Theodore A. Bechtold, Esq. or any attorney you choose to act as your lawyer in these cases.  Please contact us by phone or e-mail and visit the saveourstockmarket website for information about other somewhat related topics.


About Us

Save Our Stockmarket was started by Theodore A. Bechtold Esq. in response to the compelling tale of SEC malfeasance provided to the American public by Gary J. Aguirre.  After 10 years as a licensed attorney this historic confrontation made clear that Officers of the Court had a duty to publicly confront the ongoing systematic high level abuse of the legal process.  Theodore A. Bechtold Esq. resigned as Staff Counsel of the American Stock Exchange in 1997 after experiencing extraordinary dereliction of duty by Exchange regulatory counsel.  His other legal experiences include representing policyholders against a large insurance company pursuant to a highly publicized class action settlement and over two years leading a team of lawyers working on the IPO Securities Litigation.  Current clients include class members in over 70 offerings intervening to remove Milberg Weiss from the IPO Securities Litigation, objecting to their attempted settlement with issuers and investigating lead plaintiffs and possible claims of fraud on the Court.  There is also a pending wrongful termination suit against the IPO Executive Committee for his discharge in 2005 as an attorney on the case.