In the end, says William Taylor III, the lawyer who defended the Milberg firm for more than four years, he had no choice: If Milberg was to survive as a law firm, it had to reach a deal to avoid a guilty plea or conviction in the federal probe of kickbacks to lead plaintiffs in securities class actions. Taylor declined to comment on reports that Milberg had asked spin-off firm Coughlin Stoia to contribute to Milberg's $75 million payment of fines. Coughlin Stoia was never indicted in the kickback case.
Milberg Counsel William Taylor III: The Day After
The American Lawyer
June 18, 2008