Veritas Drops $30M To Settle Fraud Charges

Law360, New York (February 21, 2007, 12:00 AM EST) -- Veritas Software Corp. has agreed to pay $30 million to settle charges that it engaged in an earnings management scheme and that it filed false and misleading financial statements from 2000 to 2003.

The money from the settlement, which Veritas agreed to without admitting or denying wrongdoing, will go back to harmed investors, according to the Securities and Exchange Commission. Both the complaint and final judgment were filed Tuesday before the U.S. District Court in Washington, D.C.

More charges could be coming against some of the...
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