Ex-Comverse CEO To Pay $53M To End SEC, DOJ Suits

Law360, New York (November 23, 2010, 5:30 PM EST) -- Former Comverse Technology Inc. CEO Jacob Alexander agreed Tuesday to pay a $6 million fine and forfeit more than $47 million to settle civil stock option backdating claims with federal prosecutors and securities regulators, but still remains a fugitive fighting extradition to the U.S. on fraud and conspiracy charges.

The linked settlements — filed in two separate cases in the U.S. District Court for the Eastern District of New York — are part of the $60 million settlement Alexander reached in late December in four related...
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