2nd Circ. Upholds Ex-Duane Reade Execs' Fraud Convictions

Law360, Chicago (June 26, 2013, 2:59 PM EDT) -- The Second Circuit on Wednesday upheld the convictions of two former top executives at Duane Reade Inc. who were found guilty of securities fraud for allegedly inflating the pharmacy retailer's reported earnings before a private equity buyout.

In a 24-page opinion and a separate summary order, the appeals court rejected a variety of challenges to trial evidence and procedural decisions by the lower court that were raised by Duane Reade’s former CEO Anthony Cuti and former CFO William Tennant.  

Cuti and Tennant were convicted in June...
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