The case of a former executive at Dynegy Inc. illustrates the importance of company-paid legal fees.
Former Dynegy accountant Jamie Olis maintains he didn’t have the resources to mount an adequate defense against criminal charges after his company ceased paying fees, according to a Wall Street Journal (sub. req.) account of his case. He claims then-U.S. Attorney Michael Shelby pressured the company to stop paying fees.
A civil jury in Texas agreed, ordering the energy company last month to pay $2.5 million in damages for wrongly holding back the fees.
But the verdict came too late for Olis, who is serving a six-year prison term for helping create sham financial transactions.
Jun 12, 2007 3:52 PM CDT