United States Ninth Circuit

In an SEC civil enforcement action against the CFO of a publicly traded company who had illegally backdated employee stock options, the district court's remedies and sanctions are affirmed, where: 1) it was not an abuse of discretion for the district court to admit a Form 10-K into evidence, as it was a properly authenticated business record; 2) the district court was within its discretion to admit a number of the defendant's Fifth Amendment invocations and to instruct the jury that it could draw an adverse inference from them; 3) the district court's exclusion of hearsay testimony under FRE 804(b)(1) was not an abuse of discretion; 4) there was no attorney misconduct warranting a new trial; and 5) the defendant had no right to have a jury find all predicate facts to the remedy of disgorgement.

Appellate Information

• Decided 05/15/2012
• Published 05/15/2012

Judges

• Bea

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• J. Scott Ballenger, Dominick V. Freda