Gemstar's Ex-CEO Gets $22M Fine

Law360, New York (May 8, 2006, 12:00 AM EDT) -- Hit with the steepest penalty ever sought by the Securities and Exchange Commission in an accounting fraud case, Gemstar-TV Guide International Inc.’s former chief executive has been ordered to pay $22.3 million to settle civil charges that he schemed to inflate his company’s revenues.

The order requires former CEO Henry Yuen to repay almost $10.6 million that the judge found he improperly earned in bonuses and through selling stock, plus interest, and another $10.6 million representing a civil penalty.

U.S. District Judge Mariana Pfaelzer issued the...
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