Murray Hill, N.J. (May 18, 2004) -- The Securities and Exchange Commission charged Lucent Technologies with securities fraud and violating federal securities laws and charged nine current and former Lucent employees and a former Winstar Communications officer in connection with the fraud.
The SEC said Lucent agreed to pay a $25 million civil penalty for its failure to cooperate with the probe into revenue recognition issues. In its complaint, the SEC said the company "undermined both the spirit and letter" of an agreement in principle with the staff to settle the case.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access