DWF successfully defends former CEO of Redcentric Plc accused of misleading the stock market
The former CEO was completely exonerated by a jury after a 14-week trial
Fraser Fisher, the former CEO of Redcentric Plc, accused by the FCA of misleading the stock market, was unanimously found not guilty by a jury at Southwark Crown Court on Friday (11 February).
During an investigation which spanned over four years and a criminal trial that lasted three months, Fisher was advised by DWF's Financial Services Regulatory Investigations and Corporate Crime teams.
The team was led by partner Richard Burger, senior Associate Kelly Wilson and associate Amanda Lea, with support from partner Euros Jones, legal director Imogen Makin and senior associate Aaron Osborn.
Commenting on behalf of Fisher, Burger said: "Our client is profoundly grateful for the jury's unanimous verdict of not guilty on all counts in this case, and the support of his legal team throughout the 14 week trial and the years before it, from the first interview through to commencement of these proceedings. Our client would like to express his thanks to Richard Lissack QC and Leonora Sagan of Fountain Court, and Kelly Wilson and Amanda Lea of DWF”.
"We are pleased with the outcome of this case. Our client always maintained his innocence and it was finally proved in court. Kelly Wilson led a team of over 15 lawyers from across the business and worked with colleagues from our Connected Services, Forensic and Mindcrest teams to come together as part of our One Team ethos to achieve this fantastic outcome”, he added.
Burger said: "Our client was as surprised at the accounting irregularities as the other board members and members of the audit committee. After the nature and size of the accounting problems became evident to the Board in November 2016, our client remained in post to investigate, resolve the irregularities and shape the remediation scheme.
"It came as a considerable shock to be notified, on his 50th birthday, that he would be prosecuted with knowingly or recklessly misleading the stock market, and if convicted, faced a custodial sentence”.
"After an exhaustive investigation and prosecution of our client, and which on the evidence the court heard had taken a terrible toll on our client and had a devastating effect on all aspects of his life, he has been completely exonerated by the jury; our client can now start to rebuild his life," concluded Burger.