Fallen Enterasys Execs Hit With SEC Lawsuit

Law360, New York (February 13, 2007, 12:00 AM EST) -- U.S. regulators have filed a civil securities fraud lawsuit against 10 former executives of defunct software firm Enterasys Networks Inc., less than two months after federal prosecutors won a slew of convictions in the matter.

The U.S. Securities and Exchange Commission filed the suit on Feb. 9 in New Hampshire federal court, accusing the group of initiating a scheme to inflate revenues by as much as $48 million and openly discussing it in company e-mails.

The ten defendants were executives at Cabletron Systems Inc., the defunct...
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