Prosecutors who aggressively try to hold big banks accountable for their crimes may also find themselves desperate to minimize the potential fallout, Peter Henning writes in his “White Collar Watch” column for the New York Times Deal Book.
The so-called Arthur Andersen effect—named after the prestigious Chicago accounting firm that folded in 2002 following a conviction for obstruction of justice—is a real concern for prosecutors, who fear that demanding a guilty plea could cause a company to collapse, in turn leading to disruption in the market and job losses, Henning reports.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
