What They Make at Milberg

Leaving aside the allegations of criminal conduct, today's indictment of Milberg Weiss contains something else long hidden from public view: what partners there earn.

Indicted name partner David Bershad’s share of the firm’s profits from 1983 to 2005 totalled $160.9 million, according to the government, which works out to about $7 million annually (though no doubt lower early on and far higher in recent years). Steven Schulman’s share between 1991 and 2005 totalled $67.1 million.

The government said Bershad’s equity in the firm ranged over the years from 10.11 percent to 17.72 percent. Schulman’s ranged from 1.25 percent when he became a partner in 1991 to 15 percent last year. No word on Melvyn Weiss’ share or what former partner William Lerach earned before he split from the firm in 2004.

Greg Mitchell

Advertisements

5 Responses to “What They Make at Milberg”

  1. Richard Stookey Says:

    Obscene.

  2. Artie shaw Says:

    Michael Ovitz the former talent agent who served as Disney’s No. 2 executive for 15 month was paid a 140$ million dollar severance, so lets keep this all in perspective

  3. InRussetShadows Says:

    What perspective would that be, exactly? I’m just curious. What Disney does with its money (earned from creating content, no matter how dubious the value) is one thing. Its shareholders have a right to be annoyed. What lawyers earn depends upon the amount of their settlement fees, which impacts society as a whole. I am much more concerned about the wages of the ambulence chasers than I am about the wages of a content-producing company. (No, lawyers do not produce content, though the judges and juries may do so!)

  4. OCBill Says:

    Except that Ovitz’s $140 million wasn’t paid for any content he generated. It was paid to make him go away. Firms like Milberg, for better or worse (in this case), frequently represent the owners of the companies involved, aka stockholders. Back when they were going after Keating and Lincoln Savings, they were considered good guys.

  5. eadsele Says:

    Great job guys… Thank for you work…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: