A federal judge today sentenced Melvyn Weiss to 30 months in prison, Bloomberg reports.  Mr. Weiss must also pay a $250,000 fine and forfeit another $9.75 million.

The sentencing comes two months after the former name partner in Milberg Weiss Bershad Hynes & Lerach pleaded guilty to participating in a racketeering conspiracy.

Bloomberg also notes that, according to an article by Nathan Koppel in The Wall Street Journal, Mr. Weiss’s former firm — which now goes by Milberg LLP — may soon resolve its own troubles stemming from the imbroglio.  Mr. Koppel reports that Milberg "is in advanced talks with prosecutors to settle the charges against it by admitting wrongdoing and paying a fine in the neighborhood of $75 million, according to people familiar with the talks.  If the sides can not strike a deal, Milberg, which has so far denied wrongdoing, is due to stand trial in August."

Former partners in the firm, Bill Lerach, David Bershad, and Steven Schulman, pleaded guilty earlier.

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