Judge Rejects Plea Deal for Rite Aid Ex-CEO
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The federal judge handling the case of former Rite Aid Corp. Chief Executive Martin L. Grass rejected a plea deal that had capped his potential prison time at eight years.
After the deal is formally rejected at a hearing April 29, Grass may withdraw his plea, setting the stage for a trial or negotiations on a new plea agreement.
Grass, 50, pleaded guilty in June to conspiracy to obstruct justice and conspiracy to defraud for his role in an accounting scandal that led Rite Aid to restate its earnings by $1.6 billion.
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