Name of case
: United States v. Danehy
: 3:03 CR 00091-JGH
Type of case
: Insider trading
: United States District Court Western District of Kentucky, Louisville
Date of trial
: June 2006
: Hung jury, all charges dismissed
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.
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