New York state's high court has upheld the convictions of two former Tyco executives for improperly enriching themselves with more than $100 million in loans, bonuses and stock sales. The court rejected the plea of ex-CEO L. Dennis Kozlowski and ex-CFO Mark J. Swartz for a new trial. The pair contended that attorney David Boies was improperly allowed to testify at their trial about his firm's internal investigation at Tyco and whether Tyco directors had authorized Kozlowski and Swartz's compensation.
Former Tyco Executives' Convictions, Fines Upheld by N.Y. High Court
New York Law Journal
October 17, 2008