Quattrone Walks Free

Wall Street banker Frank Quattrone reached a deal in a Manhattan court Tuesday that allows him to avoid a third trial for obstructing justice. Quattrone, 50, once faced an 18-month prison term for an obstruction conviction in 2004 that was later overturned. The government had argued that Quattrone urged 400 investment bankers he supervised to destroy files when he learned about investigations. He has always upheld his innocence. He said in a statement that he plans to resume his business career. “I'm very pleased that the case will be concluded,” he said. —Mike McPhate