Paid (to Scrushy):
$48 million in bonuses
$206 million in stock options
Continue Reading–37 words [...]
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The SEC filed their opposition to Scrushy’s Motion to reconsider which was based on the SEC asking for relief for insider trading when the charge was not made or mentioned in the Complaint. It is a good thing the SEC is not making pleadings to the DOJ in Montgomery, who has a stated dislike for a lack of professionalism when insults are hurled. The SEC writes: “Scrushy’s request for reconsideration rests on a crude distortion of the Commission’s position regarding the insider trading claims…” The document concludes by characterizing Scrushy’s motion for reconsideration as “an attack” on the Court’s Order. Not quite. This response and Scrushy’s ongoing jury composition challenge, in the Siegelman-Scrushy case, will be discussed in entries posted over the next couple of days. Stay tuned and have a good weekend—or a trip to the Bahamas as the case may be—but for now, enjoy this tedious laying out of the SEC’s case and Scrushy’s answer. I have written a document that traces the evolution of the SEC case against Richard Scrushy. It is a timeline of all the major filings and actions from the court, since the case began, in 2003. It also contains some jot notes about each of the various filings. These notes are not comprehensive, nor were they meant to be, but attempt to touch on many of the highpoints in the various filings. The legal complexities of the case make it impossible to adequately summarize the actions, but the document is meant to be an overview of the evolving nature of this case, as it heads into its fourth summer, in what perhaps will be a long prelude to a final resolution. |
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