Ex-Symbol Tech CEO Fights SEC Bid To Disgorge $66M

Law360, New York (April 6, 2010, 1:17 PM EDT) -- Tomo Razmilovic, the former CEO of Symbol Technologies Inc., is fighting the U.S. Securities and Exchange Commission's proposal that he disgorge $66 million for allegedly carrying out a massive accounting fraud that helped to greatly overstate the bar code scanner manufacturer's revenue and stock price.

Razmilovic argued in a brief filed Monday in the U.S. District Court for the Eastern District of New York that the SEC had failed to prove that the amount it is seeking to disgorge — which comprises the ex-CEO's compensation, exercise...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.