Judge Says Jailed Homestore CEO Must Pay Investors

Law360, New York (April 20, 2011, 11:04 PM EDT) -- A California federal judge on Wednesday rejected efforts by former Homestore.com Inc. CEO Stuart Wolff to set aside a jury verdict finding him liable for investor losses stemming from a $67 million accounting fraud that sent him to prison last year.

U.S. District Judge Ronald S.W. Lew of the Central District of California denied Wolff’s motion to enter a judgment that he owed investors nothing, according to the jury’s 16-page special verdict. The judge also ruled against a separate defense motion to throw out the judgment...
To view the full article, register now.