SEC Drops Case Against Former AOL Bigwig

Law360, New York (November 11, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has dropped its case against former America Online Inc. executive John Tuli alleging that he conspired with other executives to inflate the revenues of PurchasePro.com Inc.

The decision to dismiss the civil claims against Tuli follows three years of hard-fought litigation and wraps up a seven-year investigation by the U.S. Department of Justice, said Tuli’s attorney, Mark Hulkower of Steptoe & Johnson LLP.

The SEC had pursued its case against Tuli despite his acquittal at the end of a three-month...
To view the full article, register now.