I’ve always thought the conviction of Andersen was a scam. The Administration wanted a high profile target to take out and they started with Andersen. I found it particularly absurd that instead of prosecuting people at Andersen they prosecuted a company. They got their guilty verdict with jury instructions that said “If you think what they did was wrong, convict independent of laws being broken”. Well, now that the conviction is thrown out what happens? Absolutely nothing. Andersen is cooked and is done for good regardless. Even if they get their accounting license back, what CFO is going to stand up and say “Hey, let’s hire Andersen to be our accountants!”
The destroyed a company because they needed a public takedown, and now that it was exposed as a sham, they still win anyway because the company has already been annihilated.
From John Bambenek at Ravings of John C. A. Bambenek
** Note to the trolls – this is not to say nothing was done wrong, but that the prosecution of a company as if it was a person is pretty stupid and was clearly done to appease the public.