Corporate Compliance

Attorney-Client Privilege Bill Praised By ABA Prez

The president of the ABA is backing legislation that would bar prosecutors from pressuring companies to waive attorney-client privilege and cut off employees’ legal fees. U.S. Rep. Bobby Scott, D-Va., introduced the bill in the House last week, Corporate Counsel reports. It is co-sponsored by Randy Forbes, R-Va. The bill…

Jul 18, 2007 12:31 PM CDT

Jury Deadlocked in Conrad Black Case

After nine days of deliberation and a three-month trial, a Chicago jury in the Conrad Black case told the judge today that it’s deadlocked. In a note sent to the judge in the federal case, and subsequently read in court, the jury said it can’t reach a unanimous verdict on…

Jul 10, 2007 10:42 PM CDT

Lawyer, Big Four Partners Charged in Tax Fraud Scheme

A former lawyer for the Internal Revenue Service is among four past and present partners of Ernst & Young charged today in an alleged tax fraud scheme intended to benefit wealthy clients and earn big fees. Robert Coplan, 54, a Texas lawyer who once worked for the IRS Legislation and…

May 30, 2007 8:26 PM CDT

Star Witness Testifies in Hollinger Case

The government’s star witnesses took the stand yesterday in the trial of media magnate Conrad Black, accused of taking unauthorized payments as chairman of Hollinger International. F. David Radler was president and COO of Hollinger and is the only senior executive in the case who has pleaded guilty, according to…

May 8, 2007 2:45 PM CDT

GC Fired As Company Probes Backdating

Another backdating probe, another general counsel gets the boot. But in the case of Matthew Gloss, dismissed as general counsel of Marvell Semiconductor Inc., it’s not clear if his firing was because of backdating, according to the Recorder. A press release noting the departure of Gloss and others at the…

May 8, 2007 12:14 PM CDT

Lawyer: Sarbanes-Oxley Misused Against Me

A Greenwich, Conn., lawyer charged with destroying evidence under the Sarbanes-Oxley Act says he has a clear conscience. Prosecutors claim Philip Russell destroyed a computer containing child pornography, owned by the music director for a church he represented, the Greenwich Time reports. He has pleaded not guilty to destruction of…

May 7, 2007 4:40 PM CDT

Tough Testimony for Renowned Chicago Lawyer

This hasn’t been a great week for former Illinois Gov. James R. Thompson. Now a well-known lawyer at a prominent Chicago law firm, he spent several days this week testifying as a witness at the fraud trial of former Hollinger International corporate executives. The company is the parent of the…

May 4, 2007 11:55 PM CDT

Lax Corporate Board Practices Long Gone?

Seemingly lax oversight by members of the Hollinger International board and audit committee revealed in testimony this week in an ongoing Chicago prosecution of high-level corporate employees undoubtedly have raised some eyebrows amongst those familiar with current oversight standards. One prominent lawyer called as a witness, for example, reportedly testified…

May 4, 2007 10:50 PM CDT

Eek Is for E-Mail

You can manage the mess of messages–but first let go of the paper

May 1, 2007 11:27 AM CDT

Penalty for Foreign Bribe is Largest

An oil company has agreed to pay $44 million in combined fines and penalties for bribing foreign officials, the largest penalty to date, the Justice Department has announced. Baker Hughes Services International Inc. pleaded guilty yesterday to violating anti-bribery provisions of the Foreign Corrupt Practices Act in a deal that…

Apr 27, 2007 5:13 PM CDT

Frist Cleared in Insider Trading Probe

Federal prosecutors have cleared former Senate Majority Leader Bill Frist of any wrongdoing in his sale of stock in a hospital chain, the Washington Post reports. Frist had sold shares in the chain founded by his brother and father days before its stock price fell. E-mails showed he had put…

Apr 27, 2007 4:08 PM CDT

Indicted Ex-CEO Eats and Bleats

Former White House budget director David Stockman is talking to reporters in an apparent effort to revive his image. Stockman has been indicted for fraud and conspiracy in connection with his handling of finances as CEO for auto parts maker Collins & Aikman. Prosecutors claim he misled investors to preserve…

Apr 27, 2007 3:49 PM CDT

The Case of the Disappearing CEO

The federal government hasn’t collected a $22.3 million judgment against the former CEO of Gemstar-TV Guide International Inc.—and doesn’t know where he is, according to a Wall Street Journal (sub. req.) story. A federal judge had ordered the payment last March in an accounting fraud case brought by the Securities…

Apr 25, 2007 3:12 PM CDT

Surprise Statement, Gutsy Defense in Apple Case

The Wall Street Journal (sub. req.) reports that a public statement by Apple’s former CFO could complicate matters for Apple CEO Steve Jobs. Fred Anderson says he warned Jobs that the company would have to take a charge against earnings if it backdated stock options. The Securities and Exchange Commission…

Apr 25, 2007 12:46 PM CDT

SEC Sues Past Apple GC; Was She Singled Out?

As previously predicted, the U.S. Securities and Exchange Commission sued former Apple Inc. general counsel Nancy Heinen today, claiming that she participated in a scheme to backdate stock options grants for CEO Steve Jobs and herself, among others. Heinen’s lawyer, however, says she did nothing wrong, and criticizes the securities…

Apr 24, 2007 11:58 PM CDT