SEC Ends Suits Against Ex-Daisytek Execs

Law360, New York (July 16, 2008, 12:00 AM EDT) -- The last two executives in the U.S. Securities and Exchange Commission's lawsuit against Daisytek International Corp. have settled allegations that they overstated the computer product distributor's earnings between 2000 and 2002.

Former Chief Financial Officer Ralph Mitchell and former Vice President Michael D. Scannell entered into final judgments Tuesday without admitting or denying the commission's charges. They also waived findings of fact and conclusions of law, and the right to appeal the final judgment.

Under the judgment, Mitchell and Scannell are permanently restrained from aiding and...
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