Judge Gives OK To Delphi Settlement With SEC

Law360, New York (November 30, 2006, 12:00 AM EST) -- A bankruptcy judge blessed a settlement between bankrupt auto parts supplier Delphi Corp. and the U.S. Securities and Exchange Commission Thursday, bringing an end to a probe into the company’s alleged inflation of financial results.

Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York said the settlement was fair and equitable, and was in Delphi’s best interest.

Last month, the SEC hit Delphi with allegations that the Michigan-based company inflated its financial results by hundreds of millions of dollars between...
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