Law360, New York (May 31, 2011, 5:36 PM ET) -- A former executive of semiconductor company Tvia Inc. agreed Thursday in California federal court to pay the U.S. Securities and Exchange Commission more than $136,000 to settle the agency's fraud case against him.
Benjamin Silva was accused in November 2009 of making side deals with customers that caused the company to over-report revenues by $5 million. Silva allegedly pocketed $300,000 from the deals, after he cashed in stock options he had won for hitting revenue targets.
Silva and his attorneys agreed to the settlement, which enjoins...
Ex-Tvia Exec Settles SEC Fraud Suit
To view the full article, take a free trial now.
