Weiss Agrees To Admit Role In Kickback Scheme

Law360, New York (March 20, 2008, 12:00 AM EDT) -- Melvyn Weiss, who rose to fame for spearheading high-stakes shareholder litigation, will avoid trial by agreeing to plead guilty to taking part in a profitable kickback scheme that has rocked the reputation of Milberg Weiss LLP, federal prosecutors and his lawyer said Thursday.

Weiss has agreed to admit that he and others covered up payment deals that his firm made to named plaintiffs in class actions against major companies. As part of the plea deal, Weiss faces up to 33 months in prison and $10 million...
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