Ex-Gateway CFO Settles SEC Fraud Suit

Law360, New York (April 11, 2012, 6:15 PM EDT) -- Former Gateway Inc. Chief Financial Officer John Todd on Monday agreed to pay more than $400,000 to settle U.S. Securities and Exchange Commission allegations that he falsely represented the computer maker's financial condition in connection with a 2000 SEC filing.

Todd will pay a total of $413,162.24, which includes $165,000 in disgorgement, $138,162.24 in prejudgment interest and a civil penalty of $110,000, according to the final judgment entered Monday in California federal court by U.S. District Judge Roger T. Benitez.

Todd accepted a 10-year ban on...
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