From mboxrd@z Thu Jan  1 00:00:00 1970
To: 9fans@cse.psu.edu
Date: Tue, 18 May 2004 08:31:00 +0000
From: john grove <jgrove24@hotmail.com>
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References: <1084809013.28375.196617444@webmail.messagingengine.com>
Subject: Re: [9fans] (no subject)
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maht0x0r@xsmail.com (matt lawless) wrote in message news:<1084809013.2837=
5.196617444@webmail.messagingengine.com>...
> SEC to fine Lucent $25m
>=20
> By electricnews.net
> Published Monday 17th May 2004 11:07 GMT
>=20
> Telecoms equipment maker Lucent is expected to be hit with a civil frau=
d
> lawsuit for what the US Securities and Exchange Commission (SEC) claims
> was the improper recognition of $1bn in revenue.
>=20
> http://www.theregister.co.uk/2004/05/17/sec_fines_lucent/
>=20
>=20
> It is also reported that five former Lucent employees will be charged i=
n
> 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.
>=20
> 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 ar=
e
> disputes over Lucent's indemnifying employees under investigation by SE=
C
> regulators from some things such as legal fees, fines and penalties, th=
e
> Wall Street Journal said.
>=20
> ---
>=20
> matt - out and about
>=20
> --=20
>   matt lawless
>   maht0x0r@xsmail.com

The motive for all this was to pump up the stock price, a run up to
near $80,
and now around $4.00. I recall a Sopranos story line were Christopher
worked
at a brokerage, pushing a company L.... something.=20

The end result is investors losing tens of BILLIONS, and tens of
thousands of employees jobless.

JG