New York securities class action law firm Milberg is laying off lawyers in what US legal publications are speculating is a slowdown in litigation following the financial crisis. Above the Law reported that six lawyers had been made redundant amongst the layoffs. In the ABA Journal, proxy advisory firm Institutional Shareholder Services claimed that Milberg won $47.465m in class action settlements in 2014 while serving as counsel or co-lead counsel. This was a sharp drop from the previous year, when it won $224.25m in settlements. 

Streaming infrastructure

The firm issued a statement to Above the Law, saying it is ‘streamlining its infrastructure in order to maximize productivity and efficiency. This decision is consistent with what many other law firms have done and continue to do in the face of changes in the legal services industry.'