Jury deliberations in Tyco case reach 11th day

Friday, April 2, 2004

NEW YORK -- The jury in the grand-larceny case against two former Tyco International jurors deliberated for an 11th day without reaching a verdict Thursday. Former chief executive L. Dennis Kozlowski, 57, and former finance chief Mark Swartz, 43, are accused of looting the conglomerate of $600 million through stock manipulation.

The jurors began their deliberations Thursday after Justice Michael Obus delivered a 45-minute explanation of some of the charges.

Later, the panel asked to review comments the two executives made to investors in 2002 about their stock sales and company loans.

Deliberations were scheduled to resume Friday.

Kozlowski's $6,000 shower curtain and $2 million toga party have made him a symbol of corporate greed and excess. He and Swartz could get up to 30 years in prison.

The defense argued that all the money and benefits received by the defendants were known to internal and external auditors and approved by members of Tyco's board of directors.

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