Ex-Tvia Exec Settles SEC Fraud Suit

Law360, New York (May 31, 2011, 5:36 PM EDT) -- A former executive of semiconductor company Tvia Inc. agreed Thursday in California federal court to pay the U.S. Securities and Exchange Commission more than $136,000 to settle the agency's fraud case against him.

Benjamin Silva was accused in November 2009 of making side deals with customers that caused the company to over-report revenues by $5 million. Silva allegedly pocketed $300,000 from the deals, after he cashed in stock options he had won for hitting revenue targets.

Silva and his attorneys agreed to the settlement, which enjoins...
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Case Information

Case Title

Securities and Exchange Commission v. Silva


Case Number

5:09-cv-05395

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Lucy H. Koh

Date Filed

November 17, 2009

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