Naked Shorting-Hedge Fund & Market Maker manipulation? Message Board

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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?

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To: ravenseye who wrote (2137)	12/5/2006 11:51:29 AM
From: ravenseye	Read Replies (1) of 5034

Feds Win Milberg Discovery Battle Justin Scheck The Recorder December 5, 2006 L.A. federal prosecutors have won a behind-the-scenes discovery fight in the undying probe of plaintiffs firm Milberg Weiss Bershad & Schulman. In a sealed ruling issued the day before Thanksgiving, U.S. District Judge A. Howard Matz ordered the production of reams of discovery that prosecutors had sought from various plaintiffs firms, according to lawyers familiar with the case. Attorneys for Milberg -- which was indicted in May, as were two of its name partners, on charges of paying kickbacks to clients -- had argued that the material was covered by work-product privilege. ... read the rest @ law.com Lawyers said the prosecutors are interested in whether Milberg paid brokers for referring investors to serve as lead plaintiffs in shareholder suits. While such payments were made explicitly illegal by a 1995 federal law, it's not clear whether they were allowed in earlier years. That legal gray area, the lawyers said, muddles whether brokers could be forced to cooperate

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