The Wall Street Journal is reporting that famed San Diego securities attorney William Lerach “is set to plead guilty to one count of conspiracy in the criminal case involving the noted securities lawyer’s former firm, now called Milberg Weiss LLP. The plea agreement, which calls for a one to two year prison term, could be announced as soon as Tuesday.”

The paper’s brief story (subscription required) cites anonymous sources close to the investigation.

ANDREW DONOHUE

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