Ex-Gemstar Chief Slapped With Liability In Fraud Case

Law360, New York (March 21, 2006, 12:00 AM EST) -- The former chief executive officer of Gemstar-TV Guide has been found liable for securities fraud amid charges that he inflated the company’s earnings by $248 million in order to boost its stock.

In a ruling disclosed on Monday, Federal District Judge Mariana R. Pfaelzer found Henry C. Yuen responsible for falsifying Gemstar’s accounting records and misrepresenting facts to the company’s auditors.

The U.S. Securities and Exchange Commission is expected to put forth a proposed penalty in the case.

The court’s ruling comes nearly three years after...
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