Ex-Milberg Weiss Client Is Fined But Not Jailed

Law360, New York (January 29, 2008, 12:00 AM EST) -- A former Milberg Weiss LLP client will serve six months in home detention and pay a $600,000 fine for taking illegal kickbacks to serve as the lead plaintiff in multiple securities class actions.

The client, Seymour M. Lazar, 80, was also sentenced to two years probation on each of three counts.

Judge John F. Walter of the U.S. District Court for the Central District of California handed down the sentence Monday.

In addition to the $600,000 fine, Lazar has agreed to forfeit $1.5 million to the...
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