Motorola To Fork Over $25M To Settle SEC Charges

Law360, New York (May 9, 2007, 12:00 AM EDT) -- Motorola Inc. has agreed to shell out $25 million to put to rest accusations that it helped formerly bankrupt Adelphia Communications Corp. deceive investors, the U.S. Securities and Exchange Commission said Tuesday.

The SEC said in a cease and desist order that Motorola submitted the $25 million settlement offer, which the agency has decided to accept.

The offer will settle charges involving a round-trip of cash between the companies under which money Adelphia paid to Motorola was immediately turned back to Adelphia in the form of...
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