LOS ANGELES (CN) – Melvyn Weiss, a founding partner of the Milberg Weiss firm, was sentenced today to 30 months in federal prison for paying kickbacks to people who agreed to serve as named plaintiffs in class action lawsuits. Weiss, 72, also was ordered to disgorge $9.75 million and was fined $250,000.
Weiss pleaded guilty in April to federal racketeering conspiracy charges. U.S. District Judge John Walter sentenced him today.
Former Milberg Weiss partners William Lerach, David Bershad and Steven Schulman already have been sentenced in the case, which involved more than 225 class action and shareholder derivative lawsuits across the nation.
Lerach is serving a 2-year sentence. Schulman and Bershad await sentencing. Two more defendants – attorney Paul Selzer and the Milberg Weiss firm – are scheduled for trial in August.
The New York law office now is known as Milberg LLP.