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View Full Version : Arthur Anderson conviction overturned

candy4140
31 May 2005, 12:49 PM
http://news.yahoo.com/news?tmpl=story&cid=578&u=/nm/20050531/bs_nm/court_enron_andersen_dc_9

...the courts..."oh and sorry that conviction put you out of business, but we were wrong"
markalot
31 May 2005, 01:07 PM
http://news.yahoo.com/news?tmpl=story&cid=578&u=/nm/20050531/bs_nm/court_enron_andersen_dc_9

...the courts..."oh and sorry that conviction put you out of business, but we were wrong"

They were put out of business because no one trusted them anymore. But yes, a 9-0 vote means someone screwed up really bad.
crank-e
31 May 2005, 01:14 PM
They were put out of business because no one trusted them anymore.

Cry me a river.
markalot
31 May 2005, 01:16 PM
Cry me a river.

I'm not sad.
tobedawg
31 May 2005, 05:14 PM
If Arthur Anderson had been a poor man on Death Row, I think that the outcome would have been dramatically different..
tempo
31 May 2005, 05:32 PM
I remember thinking that was a strange outcome back in 2002. If I understand it correctly, the government decided to go after "the company" rather than individuals who worked there.

Did any Arthur Andersen employees face criminal charges?
Handy Smurf
31 May 2005, 06:29 PM
I remember thinking that was a strange outcome back in 2002. If I understand it correctly, the government decided to go after "the company" rather than individuals who worked there.

Did any Arthur Andersen employees face criminal charges?


Limited liability partnerships (LLP) are a form of business organization. In the United States, each individual state has its own law governing their formation. They are a sub-group of partnerships. In a Limited Liability Partnership, each partner is fully liable for the debts of the partnership, but not for acts of professional negligence or malpractice committed by the other partners.

This type of organization is most popular among professionals, particularly lawyers and accountants. Each partner can be held jointly and severally liable for the ordinary business debts of the company, but if one partner commits an act of professional malpractice in the course of the partnership's business, that partner alone is liable to the injured party. For ordinary debts, every partner is fully liable even to the extent of their personal property.

Note: "Limited liability partnership" has different detailed legal implications in different jurisdictions. An LLP is a different form of business organization than an ordinary partnership, a limited partnership, or a limited liability limited partnership.
little tidbit for ya