United States Ninth Circuit

Defendant's convictions for securities fraud and making materially false statements to auditors are reversed where: 1) because defendant's jury had no competent evidence of materiality before it, it could not have properly convicted him on any of the securities counts; 2) no evidence supported a finding that defendant knew that his company's subsidiary's commitments violated GAAP; and 3) there was no proof that defendant willfully concealed buy-in letters.

Appellate Information

• Decided 12/10/2010
• Published 12/13/2010

Judges

• Richard R. Clifton

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Amber S. Rosen, Seth P. Waxman