SEC Settles With Microtune Over Backdating Suit

Law360, New York (July 2, 2008, 12:00 AM EDT) -- Just two days after the U.S. Securities and Exchange Commission filed suit against Microtune Inc. and two former executives over securities backdating, the regulator and the company have reached a settlement.

The company's two former officers who are implicated in the scheme still face charges of backdating that benefited them and other employees millions of dollars.

The SEC is seeking injunctive relief, repayment of wrongful profits, civil monetary penalties and reimbursement of profits from stock sales. The SEC also seeks to bar the two former executives...
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