UTStarcom Pays $1.5M To Settle SEC Action

Law360, New York (April 15, 2010, 5:09 PM EDT) -- San Francisco Bay Area telecommunications company UTStarcom Inc. will pay $1.5 million to settle U.S. Securities and Exchange Commission allegations that it spent millions on bribes and perks while doing business in China.

Judge Thelton E. Henderson of the U.S. District Court for the Northern District of California on Wednesday signed off on a final judgment resolving the SEC's lawsuit against UTSI, which the commission launched in December.

In addition to forcing UTSI to pay the $1.5 million civil penalty, the judgment mandates that the company...
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