Former Tyco Execs Settle SEC Fraud Charges

Law360, New York (July 14, 2009, 12:00 AM EDT) -- Former Tyco International Ltd. executives Dennis Kozlowski and Mark Swartz, who allegedly plundered millions of dollars from the industrial conglomerate, have struck a deal with the U.S. Securities and Exchange Commission regarding securities fraud allegations.

Kozlowski, Tyco's former chairman and CEO, and Swartz, the company's former chief financial officer, agreed to settle allegations that they repeatedly violated federal securities laws while managing the company, according to final judgments filed Tuesday in the U.S. District Court for the Southern District of New York.

The final judgments enjoin...
To view the full article, register now.