After a four-month trial, Bienert Katzman Littrell Williams LLP's Thomas H. Bienert, Jr. secured a mistrial in the Peregrine Systems financial fraud case after the jury deadlocked over all counts for all four defendants.  The government had charged the defendants, including Tom's client Gary Lenz, with criminal conspiracy and fraud charges after the software company imploded amid a corporate accounting scandal. 

Former Peregrine Chairman and Chief Executive Stephen P. Gardner, who pled guilty in exchange for his cooperation, testified that top Peregrine executives discussed falsely inflating financial results in order to meet goals set by its board.  During its bankruptcy reorganization, Peregrine disclosed that it had overstated its revenue by $509 million and understated its losses by over $2.6 billion over a 33-month period.

Tom's client, a former Peregrine Systems executive, was charged with 32 counts of conspiracy and fraud arising from activities that allegedly took place during the 33-month period.  In his closing argument that lasted nearly six hours, Tom argued that the government failed to substantiate its allegations against Mr. Lenz and methodically went through the exhibits and details of specific transactions at issue to dispel the notion that Mr. Lenz knowingly and intentionally engaged in a corporate conspiracy to defraud Peregrine's investors.

Deliberations lasted for two weeks before the jury notified the court that it was deadlocked in favor of acquittal.  

Read More: 

• Peregrine fraud trial ends in hung jury, The San Diego Union Tribune.
• Defense calls case vs. exec unproven, The San Diego Union-Tribune.
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