Melvyn I. Weiss, the high-profile attorney who with his firm led giant class-actions against insurers and other corporations, has agreed to a $10 million fine and a sentence of up to 33 months for illegal activity in connection with hundreds of those class lawsuits.
U.S. Attorney Thomas P. O'Brien in Los Angeles noted that Mr. Weiss would become the fourth current or former partner of the law firm he co-founded 40 years ago to admit criminal conduct.
He said Mr. Weiss agreed to plead guilty to a federal racketeering charge, and acknowledge that he and others concealed secret payment arrangements that Milberg Weiss had with named plaintiffs in class-action lawsuits.
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