Industry News

Defense takes turn in Wolff trial

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

LOS ANGELES -- Two former employees of Homestore (now Move Inc.) were questioned here Friday morning in the trial of Stuart Wolff, the company's former chief executive, who has been charged with conspiracy, filing false statements with the Securities and Exchange Commission, circumvention of internal auditing controls, fraudulent insider trading, and falsification of corporate books and records. First on the witness stand for the defense was Joe Zwicker, a wide-eyed young man in a gray suit and white shirt, who worked for Homestore in a business planning capacity in 2001. Zwicker appeared unenthusiastic, though perhaps short of hostile, about his participation in the courtroom drama. Jeff Ifrah, one of Wolff's attorneys, questioned Zwicker about e-mail messages and meetings connected to Homestore's business plans and risks and opportunities reports, which tracked the company's projected quarterly sales. Zwicker, who is no longer employed at Homestore, answered most of the questions wi...