Milberg Weiss co-founder Melvyn Weiss yesterday (15 October) pleaded not guilty in a federal court in Los Angeles to charges that he orchestrated a conspiracy to pay kickbacks to individual plaintiffs in securities class actions, reports the New York Law Journal.
But while Weiss has pledged to clear his name, one of his few remaining co-defendants prepared to plead guilty. Lawyers for Seymour Lazar, one of the individual plaintiffs who allegedly received kickbacks from Milberg Weiss, said yesterday at a status conference that their client, who entered a not guilty plea on Monday morning, had reached an agreement with prosecutors.
