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Tyco settles securities fraud lawsuit with New Jersey for $73 million
Tyco International Wednesday reached an agreement with the state of New Jersey to settle a lawsuit alleging that insider trading at the company cost the state $100 million in state employee pension funds. Under the settlement terms, Tyco will pay (More)
New York appeals court upholds Kozlowski grand larceny conviction
A New York appellate court unanimously upheld the convictions of former Tyco International CEO L. Dennis Kozlowski and former CFO Mark Swartz Thursday, rejecting arguments that the pair had been convicted of grand larceny, securities fraud and fa (More)
Tyco liability insurer seeks recovery of legal fees from ex-CEO
Corporate Officers & Directors Assurance Ltd. (CODA), a subsidiary of ACE Bermuda , has filed a petition in a New York trial court requesting an order compelling former Tyco International CEO L. Dennis Kozlowski to pay the insurer approximatel (More)
Tyco $3.2 billion shareholder settlement gets preliminary court approval
A federal judge has given preliminary approval to a $3.2 billion settlement agreement between Tyco International [corporate website; JURIST news archive], Tyco's former auditor PricewaterhouseCoopers , and investors who were harmed by fraudulen (More)
Tyco settles shareholder lawsuits for $3 billion
Tyco International [corporate website; JURIST news archive] said Tuesday that it has reached an agreement to settle most of the class actions pending against it by investors who were harmed by the actions of the company's former top executives. (More)
Former Tyco exec settles with SEC as two others charged
Former Tyco [corporate website; JURIST news archive] executive Richard "Skip" Heger reached a $450,000 settlement on financial reporting and record-keeping charges, the US Securities and Exchange Commission announced Thursday. The charg (More)
Don't Outsource Your Conscience: Lessons in Corporate Truth
JURIST Contributing Editor Nancy Rapoport of the University of Houston Law Center says that the recent spate of guilty verdicts and stiff sentences handed out for corporate fraud committed by the erstwhile leaders of Enron, WorldCom, Tyco, Adelphia a (More)
Tyco, SEC reach $50M settlement in fraud investigation
Tyco. [corporate website; JURIST news archive] has agreed to pay the US Securities and Exchange Commission a $50 million civil penalty and a $1 disgorgement fee for fraudulent accounting procedures used between 1996 through 2002, Tyco and SEC offi (More)
Judge denies bail for ex-Tyco execs during appeal
New York state appeals judge Angela Mazzarelli Monday denied a bail request by two former Tyco International executives, a decision that will keep the men in jail during their appeal process. Former Tyco CEO Dennis Kozlowski and CFO Kark Schwartz (More)
Corporations and securities brief ~ GAO tells SEC to improve funds oversight
Leading Monday's corporations and securities law news, the US Government Accountability Office (GAO) has released a report urging the Securities and Exchange Commission (SEC) to improve its oversight of the mutual funds industry. The report f (More)