Cover Story: Leo Beus and Paul Gilbert might be two of the most influential, but least known heavy hitters in Arizona

By Mike Sunnucks, Senior Reporter | Phoenix Business Journal     Published: May 4, 2016 Leo Beus and Paul Gilbert are a legal odd couple. But they’ve parlayed their differences into one of the most lucrative, old-school and behind-the-scenes law firms in the Western U.S. The pair of 72-year-olds are co-founders and managing partners of the Beus Gilbert PLLC law firm in Phoenix.…

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BYU Unveils Donated Painting ‘Treasures of Knowledge’ by artist Greg Olsen

 By Trent Toone, Deseret News   Published: August 19, 2015 A small group that included two LDS Church apostles and Brigham Young University administrators witnessed the unveiling of an original Greg Olsen painting at the Gordon B. Hinckley Alumni and Visitors Center on Wednesday during BYU Education Week. The painting, titled “Treasures of Knowledge,” was commissioned…

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Renco Penalty In MagCorp Bankruptcy Row Rises To $213M

By Kurt Orzeck, Law360  Published:  March 16, 2015 Ira Rennert and his company, Renco Corp., will have to pay a total of roughly $213 million for allegedly taking shareholder dividends from bankrupt Magnesium Corp. of America, sources told Law360 on Monday, after a New York federal judge added interest to a jury’s previous award to…

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Jury Awards Damages in Mining Firm Plunder

By The Associated Press, New York Law Journal   Published:  March 2, 2015 A Manhattan federal jury on Friday found that billionaire Ira Rennert plundered a now-bankrupt mining company to pay for personal luxuries, including a Hamptons mansion that’s one of the world’s largest private homes… Read Article

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MagCorp Trustee Kicks Off $118M Rennert Looting Trial

By Andrew Scurria, Law360  Published:   February 2, 2015 Lawyers for a bankruptcy trustee accusing industrial magnate Ira Rennert of plundering $118 million from Magnesium Corp. of America told a Manhattan jury on Monday that dividends extracted by the billionaire’s Renco Group Inc. left MagCorp “doomed to fail” and creditors out of the money. After seating a 10-person…

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“The List: ASU Driving Downtown Development”

By Mike Sunnucks, The Phoenix Business Journal  Published:  October 3, 2014 Prominent Phoenix attorney Leo Beus has donated $10 million to Arizona State University to help build its new law school. The donation is part of a $50 million fundraising campaign by ASU’s Sandra Day O’Connor School of Law, which plans to move 1,000 students,…

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Pfizer, BYU settle Celebrex lawsuit for $450M

By Tom Harvey, The Salt Lake Tribune   Published: May 2, 2012 One month from the scheduled beginning of a complex eight-week trial, Brigham Young University and drug giant Pfizer Inc. settled a lawsuit Tuesday for $450 million over whether the Utah school had been cheated out of billions of dollars in royalties for aiding in the…

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Pfizer Settles B.Y.U. Lawsuit Over Development of Celebrex

By The Associated Press, The New York Times  Published:  May 1, 2012 SALT LAKE CITY (AP) — Pfizer has settled a lawsuit filed by Brigham Young University, over development of the blockbuster painkiller Celebrex, for $450 million, according to a regulatory filing Tuesday. Terms of the settlement were not disclosed in an announcement by the…

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BYU’s $1 billion lawsuit accuses Pfizer of fraud

By Lois M. Collins and Geoffrey Fattah, Deseret Morning News  Published:  October 19, 2006 Brigham Young University and one of its professors are suing pharmaceutical giant Pfizer, claiming BYU was defrauded of profits of at least $1 billion and credit for work that led to the blockbuster drug Celebrex. The lawsuit, filed Wednesday in U.S.…

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Boston Chicken’s Andersen Suit Has Similarities to Enron Case

By Bill Richards & Scott Thurm, The Wall Street Journal Published:  March 13, 2002 In a 1992 huddle that included top partners, Arthur Andersen LLP auditors debated the merits of an accounting approach desired by a client. If they approved, the client could keep details of losses at affiliated entities from public view. Andersen’s conclusion: The…

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Alumni President Devoted to BYU, Service

By Charlene Winters, Brigham Young University Alumni Magazine  Published: Fall 1998 If BYU’s Alumni Association president were to open a vein, his blood would probably run blue. That’s because Paul E. Gilbert has been associated with BYU throughout his life and says he still feels inspired and thrilled every time he comes to campus. The…

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Law Firm Reaches Settlement in Bonneville Pacific Case

By Joe Costanzo, Deseret News  Published:  May 3, 1996 A $30 million settlement agreement has been reached with a Chicago law firm involved in the Bonneville Pacific Corp. bankruptcy case, bringing the total recovered to date to about $115 million. The firm of Mayer, Brown & Platt has agreed to pay the $30 million by…

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Failed audits are no basis for protective legislation. (Standard Chartered Bank PLC malpractice suit against Price Waterhouse) (Standard Chartered vs. PW: busted audit or legal lotto?)

By Leo Beus, Accounting Today  Published:  February 7, 1994 The Public Oversight Board of the Securities and Exchange Commission Practice Section of the American Institute of CPAs has made formal recommendations to the SEC and Congress in a report stating, “That the public interest requires remedial legislation” to protect “auditor’s exposure to liability.” As support,…

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Standard Chartered Wants Price Waterhouse Verdict Upheld

By James R. Kraus, American Banker  Published:  October 26, 1993 NEW YORK – Hoping to avoid a lengthy retrial, Britain’s Standard Chartered will next month request that the appellate court of Arizona uphold a jury verdict awarding it $338 million in compensation and $3.9 million in damages from Price Waterhouse, sources at the bank have…

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Judge orders firm to obey subpoena

By Marianne Funk, Deseret News  Published:  May 1, 1993 Deloitte & Touche’s bid to keep certain documents from Bonneville Pacific’s trustee is causing the accounting firm embarrassment and costing a lot of money. A federal judge chided company officials Friday for not obeying an October subpoena ordering the firm to turn over all documents relevant…

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Bonneville Pacific law firm from Arizona to investigate case

By Marianne Funk, Deseret News  Published:  October 2, 1992 Bonneville Pacific has hired a crack Arizona law firm to go after its own auditors, Portland General and former players in the bankrupt power company. The Arizona firm sent eight people to Salt Lake City this week to begin building a case against Deloitte & Touche,…

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COMPANY NEWS; A $128.1 Million Settlement Reached in Miniscribe Case

By The New York Times  Published:  June 4, 1992 Former executives, accountants and investment bankers involved with the Miniscribe Corporation, the defunct disk drive maker, have agreed to pay $128.1 million to settle fraud charges. Greg Ruegsegger, the lawyer representing Miniscribe’s trustees, said Tuesday that he had reached an agreement in principle with more than…

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Accountant Hit With Judgment of $338 Million : Litigation: An Arizona jury says a Price Waterhouse audit led to a British firm making a losing investment in a bank Associated Press, Los Angeles Times

By The Associated Press, Los Angeles Times  Published:  May 20, 1992 PHOENIX — A state jury on Tuesday told Price Waterhouse to pay $338 million to a British banking firm because the accounting firm’s audit led to a losing investment in an Arizona bank. The jury agreed with London-based Standard Chartered that Price Waterhouse bungled its…

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Large Award in Miniscribe Fraud Suit

By Andrew Pollack, The New York Times  Published:  February 5, 1992 A jury in a civil suit found yesterday that Hambrecht & Quist, a prominent venture-capital and investment banking firm, and Coopers & Lybrand, the accounting firm, behaved fraudulently and negligently in connection with the Miniscribe Corporation, a disk drive manufacturer accused of falsifying its…

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