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Feds Want Vitesse Criminal Case Tried Before SEC Suit

Law360 (April 20, 2011, 7:41 PM EDT) -- Prosecutors asked a New York federal court Wednesday to pause the U.S. Securities and Exchange Commission's fraud suit against two Vitesse Semiconductor Corp. executives until after a parallel criminal case against them is tried.

Both pending cases accuse Vitesse CEO Louis Tomasetta and Executive Vice President Eugene Hovanec of running revenue inflation and options backdating schemes, and U.S. Attorney for the Southern District of New York Preet Bharara said in his motion to intervene that holding the civil trial before the criminal trial would increase the...
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