From my old haunts of San Diego comes more comedy. Here is a king pin of the securities litigation arena that sucked shareholders out of hundreds of millions of dollars of legal fees. The travesty of this slime ball making so much money out of holding up honest corporate management teams (if there is such a thing) defies this measly sentence. He lied for 7 years to the court about his transgressions. If it weren't for his pals singing like the canaries they are he would have fought this charge tooth and nail. I hope this judge doesn't sleep for a week over such a pittance of a sentencing. It is beyond what any reasonable juror could ever fathom. I mean really, what is a puny $10,000,000 when he banked hundreds and hundreds of millions?
It's just more white collar crime hiding beyond the guise of legitimate legal work.
LOS ANGELES -- Melvyn Weiss, the plaintiffs' lawyer who pioneered a controversial and lucrative area of law suing corporations on behalf of shareholders, was sentenced today in federal court here to 30 months in prison. U.S. District Judge John F. Walter also ordered Mr. Weiss to pay $9.7 million in forfeitures and $250,000 in fines.
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