Riverstone Execs Settle With SEC In $30M Fraud Case

Law360, New York (March 26, 2008, 12:00 AM EDT) -- Five former top officers and a former employee at Riverstone Networks Inc. have settled the U.S. Securities and Exchange Commission's civil claims related to the alleged $30 million fraud that brought the bankrupt telecommunications equipment company down.

Permanent injunctions and the clerk's judgment against the six defendants were lodged Monday in the U.S. District Court for the Northern District of California.

The defendants are Riverstone ex-CEO Romulus S. Pereira, ex-CFO Robert B. Stanton, ex-Executive Vice President of Sales L. John Kern, ex-VP of Marketing Andrew D....
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