Ex-Kmart Chief Fights Jury Verdict In SEC Fraud Suit

Law360, New York (June 19, 2009, 12:00 AM EDT) -- Former Kmart Corp. CEO Charles Conaway is battling a jury's verdict that he lied to investors about inventory levels and liquidity issues before the discount retailer's 2002 bankruptcy. Conaway claims he didn't draft, or even review, the regulatory filing at the center of the government's accusations.

In the U.S. District Court for the Eastern District of Michigan on Thursday, Conaway filed a renewed motion for judgment as a matter of law or alternatively for a new trial.

A jury determined on June 1 that Conaway had...
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