Former Mariner Energy Board Director Avoids Prison Sentence

Skadden represented former Mariner Energy board member Clayton Peterson in securing a favorable sentence following his guilty plea to criminal charges in connection with his participation in an insider trading scheme. Although the Federal Sentencing Guidelines applicable to Peterson called for a sentence of 12-18 months imprisonment, on October 11, Judge Robert P. Patterson in the U.S. District Court for the Southern District of New York sentenced Peterson to two years probation, including three months of home confinement.