Supreme Court Overturns Arthur Andersen Conviction
Court Overturns Arthur Andersen Conviction
"WASHINGTON -- The Supreme Court threw out the conviction of the Arthur Andersen accounting firm for destroying Enron Corp.-related documents, ruling unanimously Tuesday that the jury instructions were too broad.
The decision was a defeat for the Bush administration, which had declared prosecution of white-collar criminals a high priority following accounting scandals at major corporations. But it offered only symbolic relief for Andersen, the company whose 2002 conviction put 28,000 employees out of work and left it virtually defunct.
'We pursued an appeal of this case not because we believed Arthur Andersen could be restored to its previous position, but because we had an obligation to set the record straight,' Andersen spokesman Patrick Dorton said. 'We are very pleased with the Supreme Court's decision.'"