NIC, Execs To Pay SEC $2.8M Over CEO Perks

Law360, New York (January 12, 2011, 8:30 PM EST) -- NIC Inc., a company that manages government websites, and certain executives have agreed to a $2.8 million settlement to bury U.S. Securities and Exchange Commission allegations that the company failed to tell investors of lavish perks afforded its former CEO.

The Kansas-based company and three executives — former CEO Jeffery Fraser, current CEO Harry Herington and former Chief Financial Officer Eric Bur — consented to the payout in the U.S. District Court for the District of Kansas without admitting or denying any wrongdoing, according to the...
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