Ex-Logitech Execs To Face Inflated Earnings Suit, SEC Says
Law360, New York (August 26, 2016, 5:49 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday pushed back against two former Logitech International SA executives’ efforts to duck the agency’s securities fraud suit accusing them of lying about the firm’s bottom line, calling its claims adequately pled.
Former Logitech Chief Financial Officer Erik K. Bardman and Jennifer F. Wolf, the former acting controller of the Swiss computer accessories manufacturer, are accused of deliberately minimizing a write-down of excess parts for a TV set-top device, called Revue, in order to inflate Logitech's revenues, after sales for Revue flopped.
While the former executives accused the SEC of engaging in the “worst...
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