Firm Drops Suit Amidst Controversy

Any corporate defense lawyers who have ever found themselves at the wrong end of one of Milberg Weiss's innumerable securities class action complaints will doubtlessly crack a little smile upon reading this:

Accused of misleading a judge and facing a motion for sanctions, Milberg Weiss Bershad Hynes & Lerach recently withdrew a shareholders' derivative action it filed against an industrial wheel and tire maker.

But the giant New York-based securities class action firm, known for its take-no-prisoners litigation style, didn't merely discontinue the case, it also promised never to sue the tire company again.

From The National Law Journal.