Quattrone Case Thrown Out

A Federal Appeals Court in NYC threw out a conviction against Frank Quattrone. The Judge said that the Jury in the Quattrone case was improperly instructed when it went to deliberate about the case.

For those of you who don't remember good ol' Frank, he's the guy who was convicted on obstruction of justice charges because he allegedly told bankers to shred important documents relating to an IPO.

The case received a mistrial during its first time around. Quattrone was convicted his second time around and received 18 months. He is currently free while his conviction is appealed.

Quattrone was a classic poster boy (along with Bernie Ebbers, Martha Stewart, Enron, et al) of everything that was wrong with the business world during the bull market run of the late 1990s. It should be interesting to see if the government decides to retry the case, or decides that this fish isn't worth the fry.