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Sarbanes-Oxley News & Developments
Gemstar Told To Freeze Ex-CEO PayA federal judge in LA ordered Gemstar-TV Guide International Inc. to freeze $37.64 million it agreed to pay two former officers who are targets of a federal securities probe.
> > The U.S. SEC is concerned that Gemstar founder Henry Yuen was involved in alledged fraudulent activities.
The money was to be paid to Yuen and former Gemstar CFO Elsie Leung as part of their severance package. Regulators are investigating whether the pair violated federal reporting laws when they ran the company.
Source: CNN Money article dated May 10, 2003
Published:2003-05-21
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