Timeline of events in Tyco scandal
A timeline of events in the scandal at Tyco International:
• 1960: Tyco is founded as a research laboratory.
• 1992: L. Dennis Kozlowski, employed by Tyco since 1976, is named CEO.
• 1997: The company merges with Bermuda-based security-systems-provider ADT.
• June 3, 2002: Kozlowski, citing "personal reasons," resigns unexpectedly amid reports that he is being investigated on suspicion of failure to pay sales taxes.
• June 4, 2002: Kozlowski is charged with illegally avoiding more than $1 million in sales taxes on paintings, including works by Renoir and Monet.
• Sept. 12, 2002: Kozlowski and former finance chief Mark Swartz are charged with looting the company of hundreds of millions of dollars. They plead not guilty. They are also accused by the SEC of failing to disclose huge sweetheart loans and other money taken out of the company.
• Sept. 17, 2002: Tyco, in an SEC filing, details a pattern of improper and illegal activities by its former management, including nearly $100 million in unauthorized payments to Tyco employees.
• Sept. 29, 2003: Jury selection begins in the trial of Swartz and Kozlowski in New York.
• Oct. 7, 2003: Opening statements begin.
• Feb. 10, 2004: Swartz testifies he didn't do anything he believed was illegal during the 11 years he worked at the company. Kozlowski does not take the stand.
• March 5: Judge throws out the enterprise-corruption charge against Kozlowski and Swartz, the most serious count.
• March 22: Jury deliberations begin.
• March 26: Mistrial is averted a day after jury sent out a note describing the jury-room atmosphere as "poisonous." Some media reports say juror No. 4 flashed the "OK" sign to the defense table as she left the courtroom.
• March 27: The New York Post featured a sketch on its Saturday cover depicting juror No. 4 making a clear "OK" gesture. It called her a "paranoid socialite" and "batty blueblood."
• March 29: Defense attorneys repeat their request for a mistrial, citing pressure on the juror, but are rebuffed.
• April 2: Judge declares a mistrial, citing undue pressure on one of the jurors. Prosecutors say they will seek a new trial.
Copyright © 2004 The Seattle Times Company