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.
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Melvyn Weiss Agrees to Plead Guilty to Role in Kickback Scheme
New York Law Journal
March 21, 2008
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