WilmerHale Team Assists in Successful Effort To Persuade Federal Prosecutors To Drop Charges Against David Stockman

WilmerHale Team Assists in Successful Effort To Persuade Federal Prosecutors To Drop Charges Against David Stockman

News

On January 9, 2009, federal prosecutors filed a nolle prosequi, dismissing all charges against WilmerHale client David A. Stockman in connection with his tenure as Chairman and Chief Executive Officer of auto parts maker Collins Aikman Corp. Stockman, the former Congressman and budget director in the Regan Administration, was indicted in March 2007 and charged with securities fraud, bank fraud, wire fraud, conspiracy and obstruction of an agency proceeding.

Announcing the decision, the acting United States attorney for the Southern District of New York stated, “After a renewed assessment of the evidence, the government has concluded that further prosecution of this case would not be in the interests of justice.”

WilmerHale attorneys played a key role in analyzing the charges, reviewing millions of pages of corporate documents, formulating the client's defenses and presenting the case for dismissal to the US Attorney's Office. WilmerHale lawyer Andrew B. Weissman, who led the firm's efforts, applauded the decision: “We are grateful to the Office of the US Attorney for the Southern District of New York for its fair and open-minded reconsideration of the evidence, which demonstrated that David Stockman engaged in no misconduct at all.”

The WilmerHale team involved in the successful presentation included: Andrew B. Weissman, Peter Neiman, Nicole Rabner and Erin Sloane.