SEC Denied Win On Claims Against Ex-Isilon CFO

Law360, New York (June 7, 2011, 3:07 PM EDT) -- A federal judge in Washington state on Tuesday denied the U.S. Securities and Exchange Commission's bid for victory on three of its claims against an ex-Isilon Systems Inc. executive who allegedly inflated company revenues by $4.8 million through sham transactions.

The ruling follows the SEC's still-pending request to retry former Isilon Chief Financial Officer Stuart W. Fuhlendorf on six claims after a deadlocked jury yielded a mistrial on May 11. The agency alleges that the former CFO used the sham transactions to artificially boost Isilon's revenues...
To view the full article, register now.