From mboxrd@z Thu Jan 1 00:00:00 1970 Content-Disposition: inline Content-Transfer-Encoding: 7bit Content-Type: text/plain; charset="ISO-8859-1" MIME-Version: 1.0 From: "matt lawless" To: 9fans@cse.psu.edu Date: Mon, 17 May 2004 16:50:13 +0100 Message-Id: <1084809013.28375.196617444@webmail.messagingengine.com> Subject: [9fans] (no subject) Topicbox-Message-UUID: 7d8670f6-eacd-11e9-9e20-41e7f4b1d025 SEC to fine Lucent $25m By electricnews.net Published Monday 17th May 2004 11:07 GMT Telecoms equipment maker Lucent is expected to be hit with a civil fraud lawsuit for what the US Securities and Exchange Commission (SEC) claims was the improper recognition of $1bn in revenue. http://www.theregister.co.uk/2004/05/17/sec_fines_lucent/ It is also reported that five former Lucent employees will be charged in connection with accounting problems at the company. Those to be charged are Nina Aversano, the company's former head of North American sales; William Plunkett, a former senior vice president of sales; Jay Carter, with global sales; Leslie Dorn, vice president of channel sales; and Vanessa Petrini, director of business development in mobile high-speed data. The $25m fine is the largest ever handed down by the SEC for failing to co-operate with an investigation. At the heart of the SEC's concerns are disputes over Lucent's indemnifying employees under investigation by SEC regulators from some things such as legal fees, fines and penalties, the Wall Street Journal said. --- matt - out and about -- matt lawless maht0x0r@xsmail.com -- http://www.fastmail.fm - Accessible with your email software or over the web