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Appeals Panel 'Guts' Section of Sarbox

"Extraordinary Payments" subject to Sarbanes-Oxley.

> > Court rules that since neither Congress nor the SEC has defined "extraordinary payments," the commission cannot block the severance of two former Gemstar executives who resigned under fire.
A federal appeals court has ruled that two former top executives of Gemstar-TV Guide International Inc., may seek to collect $37.6 million in severance payments that had been blocked by the SEC.
Source: CFO


Published:2004-05-17
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