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Ostrich Defense Backfires For Lay, Skilling

Law360 (May 25, 2006, 12:00 AM EDT) -- The guilty verdict in the trial of former Enron executives Ken Lay and Jeffery Skilling may be the final nail in the coffin of the “ostrich” defense, experts say.

The ostrich defense, in which defendants claim that they were unaware of the wrongdoing perpetrated at their companies, was central to the defense strategy of Lay and Skilling, who attempted to shift blame for Enron’s downfall to Chief Financial Officer Andy Fastow.

Attorneys for Lay and Skilling pointed the finger at a few powerful “bad guys” in...
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