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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.