A jury deadlocked last week in the second trial of former Arthur Andersen partner Daniel F. Stulac over the firm's audit of Peregrine Systems.
The jury announced it was deadlocked following the six-week trial, with six jurors voting not guilty on all charges. Stulac faced a maximum of 30 years in prison if convicted. A one-time partner at Arthur Andersen, he was charged in 2004 by the U.S. Attorney's Office in San Diego with securities fraud, wire fraud and bank fraud in connection with the financial reporting of Peregrine. The software company filed for bankruptcy in 2002 after announcing it was conducting an internal investigation of possible misstatements in previous financial reports, which resulted in the resignation of its CEO and CFO.
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