Class action legend Melvyn Weiss last week (20 March) agreed to plead guilty to a federal racketeering charge over his participation in a scheme to pay kickbacks to lead plaintiffs in shareholder suits.

The plea agreement recommends a sentence of between 18 and 33 months in prison for Weiss, 72. He also has agreed to pay $10m (£4.93m) in fines and forfeited fees.