Pan Pharmaceuticals founder Jim Selim was yesterday found not guilty of directing the company's IT manager to destroy company data.
Selim was acquitted in the NSW Supreme Court of ordering the IT manager, Karl Brooks, to destroy computer data relating to the company's travel sickness drug, Travacalm.
The Crown alleged that on January 30, 2003, Selim ordered the data be destroyed knowing it may be required as evidence.
Brooks admitted in court he took a computer home, deleted data and changed dates before returning the computer early the next day.
Justice Elizabeth Fullerton directed the jury to make the finding after ruling the Crown failed to prove the offence.
After considering the prosecution case, Justice Fullerton said it would be wrong to let the trial continue.
The acquittal follows two previously aborted trials on the same charges.
Selim founded Pan Pharmaceuticals in 1974.
The Therapeutic Goods Administration ordered an operational halt to the company in 2003 after a series of complaints.
The company went into involuntary administration in May 2003 after the largest pharmaceutical recall in the nation's history.