9th Circ. Denies Fees For 3 Cleared Of Securities Fraud

Law360, New York (June 27, 2011, 9:47 PM EDT) -- The Ninth Circuit said Monday that three men cleared of securities fraud charges because prosecutors withheld evidence were not entitled to attorneys' fees, despite a newly discovered memo that purportedly shows the omissions were intentional.

A three-judge panel said it would stick by the decision of the district court judge, who was quite familiar with the case against one-time defendants Daniel G. Chapman, Sean F. Flanagan and Herbert M. Jacobi, and found that the supposed smoking gun memo did not change his opinion.

“As the district...
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