New York Comptroller Seeks to Remove Milberg As Pension Fund Council

The New York State comptroller, Alan G. Hevesi, the trustee of the $140 billion New York State Common Retirement Fund, has announced he will ask Judge William H. Pauley of Southern District Court to replace the indicted class action firm Milberg Weiss Bershad & Schulman as lead counsel in a shareholder suit against the German pharmaceutical giant Bayer.
Mr. Hevesi also said he was removing the firm from the pool of those eligible to serve as the retirement fund’s counsel in future securities litigation matters.