Appeals Court: Ex-Director Owes Corning Legal Fees

Law360, New York (October 23, 2006, 12:00 AM EDT) -- An appeals court has affirmed a lower court’s ruling that a former director of Corning NetOptix Inc. found guilty of insider-trading will need to foot the bill for his own professional expenses instead of the company.

Robert D. Happ, who served as a director of Corning Inc.’s optical parts unit from 1995 to 2000, argued that he should not have to pay back the company for expenses incurred from the lawsuit filed by the U.S. Securities and Exchange Commission, and claimed that he was covered by...
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