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New Trial Date Set for Former Tyco Execs

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From Reuters

The second corruption trial of former Tyco International Ltd. executives L. Dennis Kozlowski and Mark Swartz will tentatively begin Jan. 18, or about nine months after a mistrial was declared in the first case against them, a judge ruled.

New York Supreme Court Judge Michael Obus, who presided over the first trial, also declined to dismiss grand larceny charges against Kozlowski and Swartz, the company’s former chief executive and chief finance officer, respectively.

The larceny charges are part of an overall case by prosecutors that accuses the former executives of looting Tyco of $600 million.

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But Obus did throw out half of the charges against Kozlowski in a separate case that accuses him of cheating on taxes relating to art purchases.

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