United States v. Danehy
Hung Jury; All Charges Dismissed
Case number: 3:03 CR 00091-JGH Type of case: Insider trading Jurisdiction: United States District Court Western District of Kentucky, Louisville Date of trial: June 2006
Mr. Danehy was an executive with Yum! Brands, a Fortune 500 company headquartered in Louisville, Kentucky. The Company owns and operates Kentucky Fried Chicken, Taco Bell, Pizza Hut and other fast food restaurants. Mr. Danehey was a financial analyst for the Company and was charged with using material non-public information in order to buy stock options for Yum! Brands (formerly Tricon).
After a lengthy trial in U. S. District Court, the trial jury hung 11 to 1 to acquit Mr. Danehy. This is despite the fact that Mr. Danehy had already paid a significant amount of money to the Securities and Exchange Commission to settle a civil charge against him.
We were subsequently able to persuade the government to dismiss all charges against Mr. Danehy.