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May 2005

May 31, 2005

Court Overturns Arthur Andersen Conviction
Supreme Court Overturns Arthur Andersen's Conviction for Destroying Enron-Related Documents
posted by Wire Reports

WASHINGTON (AP) -- The Supreme Court on Tuesday overturned the conviction of the Arthur Andersen accounting firm for destroying Enron Corp.-related documents before the energy giant's collapse.

In a unanimous opinion, justices said the former Big Five accounting firm's June 2002 obstruction-of-justice conviction -- which virtually destroyed Andersen -- was improper. The decision said jury instructions at trial were too vague and broad for jurors to determine correctly whether Andersen obstructed justice.

Source: AP - Yahoo! Finance

May 09, 2005

Suit Filed to Bar NYSE-Archipelago Merger

posted by Wire Reports

NEW YORK (AP) -- A seat holder on the New York Stock Exchange filed suit Monday to block the merger between the NYSE and all-electronic stock market Archipelago Holdings Inc., claiming a breach of fiduciary responsibility.

Source: AP/Yahoo! Finance

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