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.

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