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Corporations and securities brief ~ Spitzer to retry fraud charges against Sihpol

[JURIST] Leading Thursday's corporations and securities law news, New York Attorney General Eliot Spitzer [Wikipedia profile] will retry ex-Bank of America broker Theodore Sihpol. Sihpol was acquitted on 29 counts of fraud-related charges last month [JURIST report], but the jury deadlocked on 4 counts and the judge declared a partial mistrial, leaving Spitzer the choice to retry those 4 counts. Bloomberg has more.

In other corporations and securities law news...

  • Deloitte [corporate website], once Parmalat's primary accounting firm, has said that it may settle with the bankrupt Italian dairy. Parmalat filed a $10 billion lawsuit against Deloitte [JURIST report], among others, to recoup money it says it lost through fraudulent accounting. Deloitte's CEO, William Parrett [corporate profile], said in an interview that his company did not commit fraud against Parmalat but would settle if it would save Deloitte money in the long run. Reuters has more.

  • Boeing [corporate website] confirmed that is under investigation by the US State Department [official website] for selling planes equipped with motion-sensor devices to China. The devices are on a list of technology with possible military applications that US manufacturers are not allowed to export to China. The Seattle Times has reported that Boeing faces up to $47 million in fines for the transactions. Reuters has more.

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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

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