Law360, New York (August 10, 2012, 8:22 PM ET) -- The Fifth Circuit on Thursday upheld a lower court's time bar on the U.S. Securities and Exchange Commission's options backdating case alleging two former Microtune Inc. executives schemed to under-report their compensation by $22.5 million.
The Fifth Circuit agreed with former Microtune CEO Douglas J. Bartek and former Chief Financial Officer Nancy A. Richardson, ruling in a per curiam decision that the SEC should have discovered the backdating practice during its review of Microtune's filings connected with the company's initial public offering in May 2000....
SEC Case Against Ex-Microtune Execs Time-Barred: 5th Circ.
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