Securities Fraud—Duke Energy Mistrial

On Wednesday, we mentioned that the former vice president of Duke Energy, Todd Reid, had been acquitted on all of the 19 fraud charges he faced. US District Court Judge Nancy Atlas has just declared a mistrial for Mr. Reid’s co-defendant Timothy Kramer.^[1]

As we mentioned on Wednesday, Mr. Kramer had been acquitted on seven of the 19 counts he faced. Yesterday, deliberations continued, “but just before noon[, jurors] sent a note to the judge saying they ‘continue to be divided in principle’ on the remaining counts.”^[2] Judge Atlas declared a mistrial and released the jurors.^[3]

The government has until January 10 to notify the court of whether the remaining charges will be retried.^[4]

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[1] Judge Calls Mistrial in Ex-Duke Exec Trial, Associated Press, Dec. 9, 2005.
[2] Id.
[3] Id.
[4] Id.