Supreme Court OKs Executive Pay Freezes By SEC

Law360, New York (October 12, 2005, 12:00 AM EDT) -- The Supreme Court has let stand a decision that preserves the SEC’s right to freeze certain payments to executives involved in pending litigation.

The Securities and Exchange Commission had frozen payments to former executives of Gemstar-TV Guide International, who were sued in June 2003 in the U.S. District Court for the Central District of California.

The suit alleged participation by Gemstar executives in a widespread scheme to inflate Gemstar's licensing and advertising revenues to meet Wall Street's expectations.

It names Gemstar’s former chief executive officer Henry...
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