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May 25, 2006

Press Contact: Kirston Fortune, Assistant Dean for Communications, (512) 471.7330.

Prominent Media Interview UT Law Professors on the Enron Verdicts

AUSTIN, Texas — Samuel Buell and Henry Hu, law professors at The University of Texas at Austin, were interviewed Thursday (May 25) by national and international print and broadcast journalists about the verdicts in the Enron criminal trial of former company executives.

Buell, a former federal prosecutor, responded to media questions about the implications of the Enron case for the financial markets and regulatory system, the conduct of the trial, and criminal law issues including likely progress of the sentencings and appeals. Hu was interviewed about, among other things, the implications of the verdicts for corporate governance, financial markets, government regulation, managerial behavior, and the Sarbanes-Oxley Act.

On Thursday, a federal jury in Houston found Enron founder Kenneth Lay and former CEO Jeffrey Skilling guilty of conspiracy and fraud in what has been described as the largest corporate scandal in U.S. history.

Buell, a visiting assistant professor and the inaugural Fellow in the UT Law Emerging Scholars Program, has been blogging the Enron criminal trial for The Houston Chronicle since January. As a federal prosecutor in New York, Boston, Washington, and Houston, Buell led cases involving, among others, the former top executive officers of the Enron Corp. He was a special attorney with the Enron Task Force from 2002 to 2004, when Skilling and Richard Causey, former Enron chief accounting officer, were first indicted. Buell has taught criminal law, federal criminal law, and seminars on corporate crime and prosecutorial powers.

Media outlets that interviewed Buell about the Enron verdict include:

Hu, the Allan Shivers Chair in the Law of Banking and Finance, UT School of Law, is recognized in international financial circles for his groundbreaking research on the law and economics of derivatives and of corporate governance. He teaches, among other things, corporate law and securities regulation. On January 30, the first day of the Enron criminal trial, The New York Times published an op-ed written by Hu on Enron and corporate fraud.

Hu was quoted at length on the front page of the Financial Times (May 26) with respect to comments that he made on the day of the verdict. In addition, he was quoted in stories in, among other places, the Washington Post (May 26), Agence France Presse (May 25), Boston Globe (May 26), Folha de S. Paulo (Brazil) (May 26), Le Temps (Geneva) (May 27), and Newsday (May 26). That day, Hu also appeared in an interview with Maria Bartiromo on the CNBC show "Closing Bell with Maria Bartiromo" (May 25).

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