Famed securities class action lawyer Melvyn I. Weiss agreed Thursday to plead guilty to a federal racketeering charge over his participation in a scheme to pay kickbacks to lead plaintiffs in shareholder suits. The agreement recommends a sentence of between 18 and 33 months in prison. He also agreed to pay $10 million in fines and forfeited fees. Coincidentally, a court ruled Thursday to disbar Steven Schulman, a former name partner of Weiss' old firm, which anounced it's changing its name to Milberg.
Melvyn Weiss Agrees to Plead Guilty to Role in Kickback Scheme
New York Law Journal
March 21, 2008
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