Melvyn Weiss of Milberg Weiss, has reached a plea deal with federal prosecutors, The New York Times reports. Weiss will plead guilty to participating in a conspiracy to pay kickbacks to plaintiffs in shareholder suits lodged by Milberg Weiss.

According to the report, Weiss faces a sentence of up to 33 months in prison. In addition, he has also agreed to pay $10 million in fines and penalties.

Weiss was indicted last fall on charges including conspiracy and obstruction of justice.  

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