Ex-Vitesse Execs Get Probation For Data Tampering

Law360, San Diego (December 6, 2013, 10:45 PM EST) -- A New York federal court on Friday sentenced two former Vitesse Semiconductor Corp. executives to three years’ probation after they pled guilty to manipulating company records to thwart an expected stock-options backdating investigation by federal authorities.

U.S. District Judge Jed Rakoff handed down the sentences to former Vitesse CEO Louis Tomasetta and Chief Financial Officer Eugene Hovanec and fined each $30,000. The judge went along with recommendations made by the government and attorneys for the former company executives to not sentence the men to prison time....
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Case Information

Case Title

USA v. Tomasetta et al


Case Number

1:10-cr-01205

Court

New York Southern

Nature of Suit

Date Filed

December 6, 2010


Case Title

Securities and Exchange Commission v. Vitesse Semiconductor Corporation et al


Case Number

1:10-cv-09239

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Jed S. Rakoff

Date Filed

December 10, 2010

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