Steven Davis, a former chairman of Dewey & LeBoeuf, has agreed to pay a $130,000 civil penalty in a settlement with the U.S. Securities and Exchange Commission, according to newly filed court papers, the largest fine so far to come out of the SEC’s case against five leaders of the now-defunct firm, The American Lawyer reported. The SEC filed court papers Aug. 31 laying out the details of Davis’ settlement, as well as the settlements with ex-finance director Francis Canellas, who has agreed to pay $43,178 in disgorgement and interest; and former Dewey controller Thomas Mullikin, who has agreed to pay $8,635.78 in disgorgement and interest costs. If the settlements are approved by the court, the SEC will have wrung out of Dewey leaders about $216,815, including its settlement with former Dewey executive director Stephen DiCarmine. That deal, including a $35,000 civil penalty, was revealed earlier this year.
