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1/29/2008
Seymor Lazar Sentenced
Seymour Lazar, the 80 year old attorney - and serial securities plaintiff - who plead guilty in the Milberg kickback case has received his sentence - six months home detention and two years probation. He was also fined $600,000. Lazar is the first to be sentenced in the Milberg probe.

Lazar has also already repaid $1.5 million, which amounts to what he was allegedly paid by Milberg Weiss in exchange for acting as a re-occurring lead plaintiff in the firm's securities class actions. Milberg stands accused (and seven people have already plead guilty in connection with) distributing $11 million in kickbacks to individuals they called upon to routinely serve as lead plaintiff in their cases.

-- MDT

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1 Comments.
Anonymous Anonymoussaid...
The report regarding the sentencing of Seymour Lazar does not tell the entire story, and seriously mischaracterizes the circumstances and this fine man. I have known Mr. Lazar for over twenty years, and know him to be the kindest,one of the most honorable and generous persons I've ever met. Earlier in life, as an attorney, Mr. Lazar defended and gained acquittal for Lenny Bruce in an obsenity trial, and as a partner of the legendary Melvin Belli, he committed himself to many charitable and philanthropic endeavors. What the article does not reveal is that Mr. Lazar's involvement in class action lawsuits were for the benefit of all of us. As an example of some of the class action suits he masterminded was "Lazar vs. Hertz", wherein Hertz ceased from charging unfair amounts of money for fuel, when a customer returned the car with less than a full tank. Another recent example of the good things he accomplished was the class action lawsuit against Denny's, which eliminated the policy of making people of color wait hours to get a table. These are just a few examples of causes, Mr. Lazar felt were "doing good things". From my perspective, he engaged in these class action suits NOT for his personal gain as is alleged. I have been saddened to see what tactics our government has employed in their quest to bring an end to class action lawsuits, and even though Mr. Lazar's legal antics are on the periphery, he has suffered greatly for refusing to be a pawn in the overall strategy to bring down Milberg Weiss. Know this-the world is alot better because and for the things that Mr. Lazar has done in his life.
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