June 17, 2002 |
The U.S. accounting industry is expected to undergo a major transformation in the months ahead in the wake of Arthur Andersen's conviction of obstruction of justice. Already, industry power is consolidating into an oligarchy of four giant firms--Ernst & Young, PricewaterhouseCoopers, Deloitte & Touche and KPMG International. What used to be called the Big Five is shaping up as the Big Four.
June 16, 2002 |
A federal jury convicted accounting firm Arthur Andersen of obstruction of justice Saturday, sending the firm to the brink of extinction and giving the Justice Department a crucial win in its criminal probe of Enron Corp. Jurors said the verdict arose not from Andersen's shredding of Enron documents--the crux of the government's case--but from the actions of an Andersen staff attorney who has not been charged and who invoked her right not to testify at the trial.
June 15, 2002 |
In a pivotal decision, U.S. District Judge Melinda Harmon ruled Friday that jurors could convict Arthur Andersen of obstruction of justice even if they disagree on which of the firm's executives violated the law. The ruling--which had been sought by prosecutors--could allow jurors to break their deadlock in the six-week trial of the accounting firm.
June 11, 2002 |
The jury in the Arthur Andersen criminal trial ended its fifth day of deliberations Monday without reaching a verdict. The panel of nine men and three women met for about eight hours and did not ask the judge any questions or make any requests for additional information. Jurors on Sunday had asked for a dictionary, but U.S. District Judge Melinda Harmon turned down the request, saying the panel could ask for definitions of specific words. The jury sent no additional notes.
June 10, 2002 |
Juors deliberating the fate of Arthur Andersen on charges of obstruction of justice will resume this morning in Houston after meeting over the weekend without reaching a verdict. The nine-man, three-woman jury, which is being sequestered, has been deliberating since Thursday. They met on Saturday and on Sunday at the federal courthouse. At one point Sunday they asked for a dictionary. U.S.
June 6, 2002 |
The government and the defense in the Arthur Andersen obstruction-of-justice trial made their final arguments to the jury on Wednesday, battling to the bitter end about the firm's intent when it shredded documents related to Enron Corp. last year. U.S. District Judge Melinda Harmon ordered the jury to start deliberations in the case, in which Andersen is accused of destroying records with the aim of impeding an investigation by the Securities and Exchange Commission. Asst. U.S. Atty.
June 5, 2002 |
Lawyers for accounting firm Arthur Andersen rested their case Tuesday, setting the stage for crucial closing arguments today that trial observers believe could tip the balance in the case. The two sides in the Andersen trial have essentially battled to a draw, making the summation a potential turning point, said veteran Houston litigator David Berg.
May 30, 2002 |
Defense lawyers for accounting firm Arthur Andersen complained to a federal judge Wednesday that prosecutors were unfairly questioning witnesses about how investigators treated them during pretrial interviews. Attorneys defending the firm against an obstruction-of-justice charge here asked U.S. District Court Judge Melinda Harmon to instruct federal prosecutors not to raise the issue with witnesses.
May 27, 2002 |
Arthur Andersen, plagued with client losses, bolting partners and the possibility of losing its accounting license in Texas, probably will begin presenting its defense in its obstruction-of-justice trial today in federal court in Houston. Prosecutors expect to rest their case with their last witness, FBI agent Paula Schanzle. Andersen's lead lawyer, Rusty Hardin, then expects to start presenting the defense. David Duncan, Andersen's former top Enron Corp.
May 25, 2002 |
A team of Justice Department officials strode into a ninth-floor federal courtroom here three weeks ago, armed with reams of paper evidence and a blue-chip witness. But by Friday, as prosecutors neared the end of their obstruction of justice case against accounting firm Arthur Andersen, neither the documents nor star witness David B. Duncan had proved devastating to the defense, some legal experts say.