SEC Seeks Hefty Fine Against Ex-Gemstar Chief

Law360, New York (March 29, 2006, 12:00 AM EST) -- The U.S. Securities and Exchange Commission wants Henry Yuen, the former chief executive of Gemstar-TV Guide, to cough up $60.9 million for his role in a massive accounting fraud perpetrated at the company.

Yuen had been found liable earlier this month for securities fraud amid charges that he inflated the company’s earnings by $248 million in order to boost its stock.

The SEC’s proposed fine includes a $15.7 million civil penalty, which could potentially be the biggest SEC sanction for an individual in an accounting case....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.