79 year old Seymour Lazar was indicted in June 2005 by federal prosecutors in hot pursuit of class action giant Milberg Weiss. Lazar was accused of receiving kickbacks from Milberg in exchange for serving repeatedly as lead plaintiff in the law firm's class action suits.

Unlike others in similarly uncomfortable positions, Lazar steadfastly refused to deal or talk. Now, as Lazar's trial is gearing up a series of hearings have been scheduled, and the first already concluded, to determine whether the ailing almost-octogenarian can reasonably withstand the rigors of the courtoom.

For further details on the Lazar trial, check out the New York Sun.

In related news, former Milberg partner and one of the individuals named in the firm's "kickback" indictment, Steven Schulman, has asked that the charges against him be dismissed. Schulman, along with former Milberg partner David Bershad faces charges including conspiracy, mail fraud, money laundering, obstruction of justice and tax violation . Schulman requested the dismissal of charges based on the claim that shareholders in lawsuits where lead plaintiffs received kickbacks suffered no actual harm.

For background on all of the above shenanigans, check out the tags below, which will take you to The Daily Caveat's past coverage of the long in coming Milberg indictment and all the colorful players it involves...

-- MDT

Labels: David Bershad, kickbacks, Melvyn Weiss, Milberg, Milberg Weiss, money laundering, Seymour Lazar, Steven Cooperman, Steven Schulman