Judge Accepts SEC Changes In Koss Fraud Case Deal

Law360, New York (February 1, 2012, 11:55 PM EST) -- A Wisconsin federal judge on Wednesday said that the U.S. Securities and Exchange Commission had sufficiently addressed his concerns over a proposed $242,000 settlement with headphone maker Koss Corp. CEO Michael J. Koss over a $34 million embezzlement scheme run by a former company executive.

U.S. District Judge Rudolph T. Randa also accepted the SEC’s offer to revise certain terms of the settlement, after he took issue with it in December, stating the agency had not shown how it reasonably addresses its claims that Koss’ oversight...
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