Judge Limits Loss Arguments For Ex-Duane Reade CEO

Law360, New York (November 3, 2010, 2:45 PM EDT) -- A federal judge has dismissed as “incomprehensible” prosecutors’ attempts to increase the loss calculation, and hence the prison term, of former Duane Reade CEO Anthony Cuti, who was convicted of artificially padding his drugstore chain’s earnings.

As a result, Judge Deborah A. Batts of the U.S. District Court for the Southern District of New York said in a Tuesday order that she will not accept any new alternative loss theories in the case before sentencing.

At stake in that sentencing hearing is a 22-level loss enhancement...
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