Former Duane Reade CFO Skirts Prison Term

Law360, New York (September 6, 2011, 6:56 PM EDT) -- A New York federal judge on Tuesday sentenced former Duane Reade Inc. executive William Tennant to three years' probation for his role in a securities scheme to inflate the drugstore chain's earnings before a private equity firm acquired it.

U.S. District Judge Deborah A. Batts handed down the sentence of time served and fined the former chief financial officer $10,000 after deciding in contentious post-trial hearings in July that private equity firm Oak Hill Capital Partners LP didn't suffer any loss in the scheme after it...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.