Former Gemstar CFO Reaches Deal With SEC

Law360, New York (November 30, 2005, 12:00 AM EST) -- The former Chief Financial Officer of TV Guide parent company Gemstar has reached a settlement with the Securities and Exchange Commission, which, if approved, will end the civil fraud lawsuit alleging she helped overstate Gemstar earnings by $223 million.

Elsie Leung left Gemstar after a 2002 audit revealed accounting irregularities attributed to Leung and former Gemstar CEO Henry Yuen helped overstate Gemstar’s revenues by millions of dollars.

The deal, the terms of which were not made public, must still be approved by the SEC. The settlement...
To view the full article, register now.