Appeals Court Bats Down Challenge To Lay Verdict

Law360, New York (November 7, 2006, 12:00 AM EST) -- A U.S. appeals court has tossed a bid to overturn a ruling voiding the earlier fraud conviction of Kenneth Lay, a decision handed down in the wake of the Enron Corp. founder’s death this summer.

On Wednesday, the U.S. Circuit Court of Appeals for the Fifth Circuit denied the petition of Russell P. Butler, who had been seeking to reverse the lower court’s ruling nullifying Lay’s conviction.

"We are bound by ... precedent," wrote a three-judge panel of the circuit court in an opinion delivered earlier...
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