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....
To view the full article, register now.