SEC Charges Former Daisytek Execs With Fraud

Law360, New York (August 1, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission filed a lawsuit Monday against five former executives of bankrupt office and computer product distributor Daisytek International Corp. for allegedly overstating earnings between 2000 and 2002.

Three of the executives—former CEO James R. Powell, former controller Mark J. Corjay and former executive vice president E. Suzanne Garrett—have already settled with the SEC without admitting or denying the allegations.

According to the settlement, Powell cannot serve as an officer or director of a public company for 10 years. He was also...
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