Arthur Andersen Case Overturned: Damage Already Done

The Supreme Court of the United States overturned accounting firm Arthur Andersen's conviction in a decision handed down today. The damage was done years ago to the once leviathan sized firm giving up thousands of employees and most of its customers. The court said in the unanimous decision Chief Justice William Rehnquist wrote the opinion, "The jury instructions here were flawed in important respects."

We are very pleased with the Supreme Court's decision, which acknowledges the fundamental injustice that has been done to Arthur Andersen and its former personnel and retirees. We pursued an appeal of this case not because we believed Arthur Andersen could be restored to its previous position, but because we had an obligation to set the record straight and clear the good name of the 28,000 innocent people who lost their jobs at the time of the indictment and tens of thousands of Andersen alumni, as well as to help secure a fair resolution of the civil litigation facing the firm. This decision represents an important step in removing an unjustified cloud over the professionalism and integrity of the people of Arthur Andersen. John Stith is a staff writer for murdok covering technology and business.