Ex-Gateway Execs Settle SEC Fraud Suit

Law360, New York (January 31, 2012, 6:43 PM EST) -- Former Gateway Inc. CEO Jeffrey Weitzen and another executive will pay about $380,000 to settle U.S. Securities and Exchange Commission allegations of fraud connected with a 2000 financial filing, the SEC said Tuesday.

Weitzen will pay a $110,000 and Robert D. Manza, Gateway's ex-controller, will pay about $270,000, the SEC said in a statement. A district court entered final judgments against the two on Jan. 24.

The SEC says the men improperly booked $47.2 million in revenue from a one-time asset sale on Gateway's books so...
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