Hot sectors in a tepid recovery
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US law firm Milberg in settlement talks-sources
LOS ANGELES, April 29 (Reuters) - Indicted U.S. law firm Milberg LLP is in settlement talks with federal prosecutors to resolve a long-running criminal case involving accusations it paid illegal kickbacks to clients, sources close to the talks said on Tuesday.
New York-based Milberg, scheduled to go on trial in August, is discussing ways to resolve the case with the U.S. Attorney's Office in Los Angeles, according to two people with knowledge of the talks.
Prosecutors contend Milberg, a specialist in investor class-actions long been feared in corporate America, secretly funneled cash payoffs to clients over a span of 25 years. The firm is accused of hiding the arrangements from judges and other plaintiffs.
The firm did not immediately respond to a request for comment Tuesday. The U.S. Attorney's Office declined to comment. (Reporting by Gina Keating and Martha Graybow; editing by Jeffrey Benkoe)
