Milberg Weiss: Behind the Breakup
"Ask Melvyn Weiss or William Lerach why their firm—Milberg Weiss Bershad Hynes & Lerach—will be split into East and West coast firms, and they'll say it's because the 200-lawyer operation is too difficult to manage."
"However, interviews with six ex-partners at Milberg Weiss who spoke anonymously and with other attorneys who are familiar with the firm's operation and cases, yield a somewhat different story. In recent years, these lawyers said, the California and New York operations have fought over money. California senior partners reportedly believed they were entitled to a bigger share of the pie because their operation was more profitable," The National Law Journal reports here.
I posted earlier about the pending split here. And today's Daily Journal (no link) has an article stating that a grand jury investigation of Lerach's litigation practices has the firm worried about liability.