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No Verdict on Quattrone Jury's Second Day

October 17, 2003|From Reuters

Jurors in the trial of former Silicon Valley investment banking star Frank Quattrone asked late Thursday to hear key testimony read back to them, as the second day of deliberations wound down without a verdict.

The jury sent several notes to the judge presiding over the trial, including a request to hear again Quattrone's testimony about his role in the allocation of hot stock offerings at Credit Suisse First Boston, where he was head of technology investment banking.

Quattrone was charged with interfering with federal probes in December 2000 by endorsing an e-mail in which a subordinate instructed staff to destroy records. He faces two counts of obstruction of justice and one of witness tampering.

At the time, the Securities and Exchange Commission and a federal grand jury were seeking documents showing whether CSFB had doled out shares of the hottest stock offerings in exchange for kickbacks on other deals.

Whether Quattrone knew documents being sought would have been kept in the records of his investment banking unit and whether he played a role in how hot stocks were allocated have been the central questions in the case.

Late in the afternoon, the jury sent a note to Judge Richard Owen asking for Quattrone's testimony regarding first-time stock offerings. They also asked to see the transcripts of testimony about phone conversations between Quattrone and David Brodsky, CSFB's former general counsel, in the days around the time the e-mail was sent.

The jury was reduced to 11 after one juror was excused because her mother had a heart attack. The remaining panelists were scheduled to resume deliberations today.

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