Merritt-Chapman & Scott Corp. v. Wolfson

321 A.2d 138 (1974)

Facts

Ds were charged with conspiracy to violate federal securities laws. The trial the court dismissed part of the conspiracy count, but the jury returned guilty verdicts on all charges against all claimants. At that stage, this court held that Wolfson, Gerbert, and Kosow were not entitled to partial indemnification. Thereafter the convictions were reversed. There were two retrials of the perjury and filing false annual report charges against Wolfson and Gerbert. At the first retrial, the court entered a judgment of acquittal on count four at the end of the State's case, and the jury could not agree on the other counts. At the second retrial, the jury returned a guilty verdict on count three, but could not agree further. A plea bargain was then entered. Wolfson entered a plea of nolo contendere to count five, and the other charges against him were dropped. He was fined $10,000 and given a suspended sentence of eighteen months. Gerbert agreed not to appeal his conviction of count three, on which he was fined $2,000 and given a suspended sentence of eighteen months, and the other charges against him were dropped. The prosecution also dropped the charges against Kosow and Staub.