Dewey Star Witness Reaches Partial Deal With SEC

By Carmen Germaine (February 24, 2016, 1:53 PM EST) -- The U.S. Securities and Exchange Commission has reached a partial settlement with former Dewey & LeBoeuf LLP Finance Director Frank Canellas that resolves liability for securities fraud claims related to the firm's collapse but leaves open the question of penalties, the SEC said Wednesday.

Frank Canellas had testified for prosecutors in the criminal trial of former Dewey executives Steven Davis, Stephen DiCarmine and Joel Sanders. (Credit: Law360) The SEC sent a letter Wednesday informing U.S. District Judge Valerie E. Caproni that it had reached a partial settlement of civil claims against Canellas, who pled guilty in February 2014 to criminal charges...

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