Milberg Weiss Bershad Hynes & Lerach, widely recognized as the leading plaintiffs’ securities class action firm, is breaking up. The Houston Chronicle reports today that the 200-lawyer firm will dissolve over the next few months, with the lawyers regrouping into smaller firms. Milberg Weiss has seven offices located throughout the country. The split, however, will not be “simply geographical.”
Quote of note: “Lerach said he hopes that the resulting smaller firms will be ‘friendly’ competitors.”
The 10b-5 Daily 