Dewey leaders are acquitted of falsifying business records; deliberations continue
Three former leaders of the failed law firm Dewey & LeBoeuf have been acquitted on charges of falsifying business records.
The partial verdict was announced on Wednesday, a day after jurors told Judge Robert Stolz of Manhattan that they couldn’t reach a decision on a majority of the counts. The Wall Street Journal (sub. req.) and the Am Law Daily reported on the partial verdict.
Stolz directed jurors to continue deliberations on the remaining counts. Jurors have been deliberating for two weeks.
The breakdown: Former Dewey chairman Steven Davis was acquitted on 19 out of 31 business record counts, former Dewey executive director Stephen DiCarmine was acquitted on 17 out of 31 business record counts, and former chief financial officer Joel Sanders was acquitted on 13 out of 35 business record counts.
The three men are also charged with grand larceny, conspiracy, scheme to defraud and securities fraud, according to the New York Law Journal.
The jury reconvened after one juror visited the emergency room this morning because she had experienced vertigo.
The three defendants are accused of misleading lenders and bond buyers about the firm’s finances before its collapse. The grand larceny charge is the most serious, carrying a sentence of up to 25 years in prison.
