Ex-Veritas Exec Settles With SEC Over $20M Inflation

Law360, New York (March 22, 2012, 6:21 PM EDT) -- The U.S. Securities and Exchange Commission on Tuesday secured a $100,000 settlement with a former Veritas Software Corp. sales chief, leaving just one defendant in a case alleging the company falsely puffed up its revenues following a lucrative licensing deal with America Online Inc.

Paul A. Sallaberry, onetime head of sales for Veritas, agreed to return $75,000 in profits and pay a $25,000 penalty but did not admit wrongdoing. Counsel for Sallaberry didn’t immediately respond to a request for comment.

The case dates back to 2007,...
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