« Good Luck, Richard | Main | Avaya Gone; Now What? »
SEC Slams Down on Nortel
By Mark Evans | June 8, 2007
A month after the toothless Ontario Securities Commission gave Nortel a soft slap on the wrist ($1-million) fine for accounting irregularities (aka an accounting scandal allegedly spawned by the books being cooked to trigger a lucrative bonus scheme), the U.S. Securities and Exchange Commission is apparently to hit Nortel with a $100-million fine. The SEC filed civil charges against four ex-Nortel executives, accusing them of an accounting fraud that helped the company meet Wall Street expectations. For more, check out Engadget.
Topics: Legal Issues |