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Litigation

Oct. 31, 2012

Jury verdict reached in $4.33 billion federal junk bond trial

A federal jury returned a verdict on Monday in favor of Francois Pinault's Artemis SA holding company, which was sued by state regulators following the failure of Executive Life Insurance Co., once the state's largest life insurer.

See Correction Below

By Ben Adlin

Daily Journal Staff Writer

LOS ANGELES - A federal jury returned a verdict on Monday in favor of Francois Pinault's Artemis SA holding company, which was sued by state regulators following the failure of Executive Life Insurance Co., once the state's largest life insurer.

If upheld in post-trial motions and on appeal, the verdict would allow Artemis, which controls Gucci and other high-end brands, to retain $4....

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