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 joint 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.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
