Judge Keeps Fraud Suit Against Veritas Execs Alive

Law360, New York (August 21, 2008, 12:00 AM EDT) -- A federal judge has denied several motions to dismiss by three Veritas Software Corp. executives in a lawsuit alleging they filed false and misleading financial statements from 2000 through 2002.

The lawsuit, filed in the U.S. District Court for the Northern District of California by the U.S. Securities and Exchange Commission, charges three top executives with artificially inflating Veritas' publicly reported revenues and earnings through an improper transaction with America Online Inc., now AOL LLC.

The officers facing the charges are Mark Leslie, former chairman and...
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