2 Ex-Execs at Tyco Ask Judge to Drop Charges
- Share via
Tyco International Ltd.’s former chief executive, Dennis Kozlowski, says he didn’t repay a company loan of more than $6 million because Tyco owes him more than that in unpaid compensation.
Kozlowski’s lawyers made the claim as he and former Chief Financial Officer Mark Swartz asked a judge to dismiss charges accusing them of looting the firm of $600 million. Defense attorneys told New York State Supreme Court Justice Michael Obus that neither man broke any laws while at Tyco, though they may have exceeded their authority.
Obus said he would decide whether to dismiss the charges against Kozlowski and Swartz in May.
Tyco shares fell 79 cents to $11.50 on the NYSE.
From Bloomberg News
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
