BREAKING NEWS ~ Scrushy acquitted on all charges in corporate fraud trial News
BREAKING NEWS ~ Scrushy acquitted on all charges in corporate fraud trial

[JURIST] A jury has found former HealthSouth CEO Richard Scrushy [JURIST news archive] not guilty on charges of wire and mail fraud, money laundering, conspiracy, and violations of the Sarbanes-Oxley Act [summary]. Scrushy was the first CEO to be charged with violating the act. The jury, originally given the case on May 19, was deadlocked for weeks [JURIST report] and had to start deliberating again on June 22 when a juror was replaced [JURIST report] for health reasons. The charges stemmed from a scheme to overstate earnings and inflate the company's stock price between 1996 and 2002. Prosecutors claimed Scrushy was in charge of the scam, while Scrushy's defense blamed aides, 15 of whom pleaded guilty [AP report]. CNN has more.

THIS DAY @ LAW

Laws of Burgos put into effect

The Spanish Crown put the Laws of Burgos into effect on December 27, 1512. These laws governed the relationship of Spanish settlers with the indigenous peoples of the Caribbean. The laws established the encomienda system of labor, promoted conversion to Catholicism, and safeguarded the indigenous peoples from physical abuse.  However, historians argue that the laws were ineffective at protecting the rights of the indigenous population. Learn more from the Library of Congress.

Prohibitionist Carrie Nation carried out her first public bar smashing

On December 27, 1900, militant Prohibitionist Carrie Nation carried out her first public smashing of a bar, at the Carey Hotel in Wichita, Kansas. Nation argued that destroying bars was an acceptable means of battling the liquor trade since the Kansas Constitution prohibited alcohol. Learn more about Carrie Nation.

World Bank created

On December 27, 1944, the World Bank was created during the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire, USA. Learn more about the history of the World Bank.