By Matt Krantz, USA TODAY A federal Appeals Court reopened an insider-trading case against outspoken billionaire Mark Cuban Tuesday, deciding there’s enough evidence of potential wrongdoing to warrant the Securities and Exchange Commission’s lawsuit to go forward. The SEC charged Cuban in November 2008 with using insider information to avoid a $750,000 loss in June…
Trial judge vacates conviction of late Enron founder Lay
By Greg Farrell, USA TODAY The late Ken Lay, the Enron founder who was convicted in May of deceiving investors about Enron’s finances, is once again innocent in the eyes of the law. U.S. District Judge Sim Lake, who presided over the trial of Lay and his colleague Jeff Skilling in Houston earlier this year,…
Defense: Politics behind Brocade charges
By Edward Iwata, USA TODAY The attorney for former Brocade Communications CEO Gregory Reyes, charged with fraud in the federal government’s nationwide crackdown against suspected stock-option accounting abuse, says prosecutors and regulators are pressing forward on a weak case for political reasons. In a written statement, Richard Marmaro of the Skadden Arps law firm accused…
Act 2: Enron’s Skilling and Lay to take the stand
By Greg Farrell, USA TODAY After nine weeks, prosecutors from the Enron Task Force paraded rested their case alleging Ken Lay and Jeff Skilling conspired to hide the true state of the company’s finances from the investing public. Starting Monday in Houston, defense lawyers will present the other side. The heart of their case is…
Watkins set to take the stand today
By Greg Farrell, USA TODAY But when the former Enron vice president takes the stand Wednesday as a prosecution witness in the government’s trial of former Enron CEOs Ken Lay and Jeff Skilling, she’ll no longer be alone. Instead, the woman who is perceived as the lone truth-teller in a company built on lies will…
A Dream Comes to Earth in a Houston Courtroom
By ALEXEI BARRIONUEVO HOUSTON, Feb. 7, 2006 – From fast cars to rugged adventure trips to $6.4 million in bonuses, Enron was a dream maker for Kenneth D. Rice. While he was still in his 30′s, Mr. Rice, a former Nebraska farm boy and high school jock, pocketed millions of dollars working for the Houston-based…
AIG in deeper legal trouble if records were destroyed
Last Update: 4:00 AM ET Apr 2, 2005 SAN FRANCISCO (MarketWatch) — Reports that an American International Group employee destroyed company records put the giant insurer in even deeper legal trouble, experts said. New York Attorney General Eliot Spitzer, the Securities and Exchange Commission and the Department of Justice are investigating AIG’s AIG -0.86% use…
Jury Indicts Lay, Former Head of Enron
The criminal charges, to be unsealed today, relate to the energy trader’s financial scandal, the first in a wave of U.S. corporate misconduct. July 08, 2004 | David Streitfeld and Dana Calvo | Special to The Times Kenneth L. Lay, who presided over Enron Corp. as it turned into one of the biggest financial scandals…
Critical decisions await Tyco judge
By Associated Press | March 29, 2004 NEW YORK — An elaborate five-month trial that has come to symbolize the worst of an era of corporate excess could be derailed this week by a 79-year-old retiree from Manhattan. Jurors in the trial of two former top Tyco International executives return this morning to deliberations they…
PROSECUTING MARTHA STEWART: THE GOVERNMENT; Prosecutors Have Reasons for Stalking Celebrities
By KURT EICHENWALD Published: June 05, 2003 Martha Stewart’s lawyer wasted no time yesterday suggesting that his client had become a target for government prosecutors on account of her fame. “Is it for publicity purposes, because Martha Stewart is a celebrity?” her lawyer, Robert Morvillo, asked in a statement challenging the motives behind her indictment…