SEC Accuses Ex-Riverstone Execs Of Fraud

Law360, New York (October 19, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has taken aim at six former executives of now-bankrupt telecommunications equipment company Riverstone Networks Inc., filing a suit alleging the officers perpetrated a $30 million fraud that eventually brought down the company.

The suit names the company’s former top executives, including CEO Romulus Pereira, Chief Financial Officer Robert Stanton, Vice President of Worldwide Sales L. John Kern, Vice President of Marketing Andrew Feldman, Vice President of Finance William McFarland and Director of Sales Operations Lori Cornmesser.

The SEC alleges that...
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