Delphi Settles Securities Fraud Charges

Law360, New York (October 30, 2006, 12:00 AM EST) -- The U.S. Securities and Exchange Commission on Monday hit bankrupt auto parts supplier Delphi Corp. with a complaint alleging that the Michigan-based company inflated its financial results by hundreds of millions of dollars between 2000 and 2004. Delphi and six of the 13 individual defendants promptly settled with the SEC.

Charges remain pending against former Delphi chief executive J.T. Battenberg III, ex-Delphi treasurer and senior vice president John Blahnik and Delphi’s erstwhile controller and chief accounting officer Paul Free. In total, seven defendants remain on the...
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