SEC Chastizes Ex-Gemstar Exec Plea Bargain

Law360, New York (January 1, 2006, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has openly criticized the Justice Department’s plea agreement with former Gemstar CEO Henry Yuen, telling a judge that prosecutors may have been too lenient in settling with the embattled executive.

In response, Judge John Walter has delayed the approval of the plea deal, which mandated six months of home detention and a $1 million charitable donation.

The SEC’s disapproval of the deal comes just weeks after Walter himself called the deal inappropriate and said he had tentatively decided to reject...
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