Court Upholds $22M Fine Against Ex-Gemstar CEO

Law360, New York (April 3, 2008, 12:00 AM EDT) -- The former chief executive of Gemstar-TV Guide International Inc. has lost his bid to overturn a $22 million fine stemming from charges he defrauded investors and caused the value of the company's stock to fall by $3 billion in a single day.

The U.S. Court of Appeals for the Ninth Circuit ruled Tuesday that the penalty imposed on Henry Yuen – one of the highest fines ever sought for accounting fraud by the U.S. Securities and Exchange Commission – was well within the discretion of the...
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