Hynix may be fined for accounting violations
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South Koreaâs financial regulator has found accounting irregularities worth Won1,980 billion ($1.7 billion) at Hynix Semiconductor, and has warned that the worldâs second largest memory chipmaker could be fined for the violations.
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(InfoWorld) - The European Commission has again criticized Microsoft's response to a 2004 antitrust ruling, opening up the possibility of further fines for the company. In March 2004,Â the Commission fined MicrosoftÂ and ordered it to provide its competitors with information allowing them to develop workgroup server software interoperable Windows desktop operating system. It thenÂ fined the company againÂ last July for failing to provide that information on time. The Commission has sent Microsoft another statement of objections, saying it considers the interoperability information Microsoft has offered is still incomplete, said Jonathan Todd, Commission spokesman on competition issues. In addition, Microsoft is charging its competitors too much for that information: it does not justify the price tag put on it because it is not innovative, he said. Microsoft has four weeks in which to respond to the statement of objections, after which it may face further daily fines for noncompliance with the antitrust ruling. Even as Microsoft and the Commission dispute whether Microsoft is in compliance with the ruling, another court is considering whether Microsoft should have to comply at all. The European Court of First Instance, in Luxembourg, is still considering Microsoft's appeal against the Commission's March 2004 ruling that Microsoft abused its monopoly in desktop operating systems to exploit markets for workgroup server and media player software. At that time, the Commission ordered Microsoft to pay a fine of â¬497 million (then around $600 million), ship a version of Windows without media player software, and publish the server software interoperability information disputed in today's announcement. (Peter Sayer, in Paris, contributed to this report.)
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US prosecutors said Thursday Qwest Communications isn&#39;t off the hook, even though the company agreed to a $250 million civil fine for its addiction to fraudulent accounting.
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TOKYO: Japan&#39;s Toshiba said on Tuesday it had filed suit against South Korea&#39;s Hynix Semiconductor in the United States and Japan, claiming infringement of patents related to memory chips.
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(InfoWorld) - Graphics chip maker Nvidia found some irregularities in past stock-based compensation practices during an internal probe, and took a total of $127 million in non-cash charges over associated expenses, the company said Wednesday. The figure fell within theÂ $150 million chargeÂ Nvidia said it might have to take. The company also amended financial results for its fiscal year 2006 and the first two quarters of 2007 as a result of the internal probe. The non-cash charge and amendments to previous financial statements ends its internal probe, but an inquiry by the Securities and Exchange Commission (SEC) remains ongoing, Nvidia said. The restated earnings reports did not have a material impact on Nvidia's operating results, it said. The company plans to cooperate fully with the SEC. A number of technology companies have launched reviews over stock-based compensation to employees, finding instances in which stock options have been dated back to a time when the stock had hit a low. The practice is unfair to shareholders and was made almost impossible to legally execute by Sarbanes-Oxley, and for good reason. Stock options were designed as a way for employees to share in the success of the company and give them an added incentive. But by back-dating the options, employees -- often executives -- were essentially given shares that were already valuable. So far, stock options probes, carried out either by companies themselves or by the SEC, have affected over 160 companies.Â Investigations at memory chip developer RambusÂ andÂ security software vendor McAfeeÂ  have led to the resignation or firing of top executives.Â Apple ComputerÂ could be kicked off the Nasdaq by Dec. 29 if it fails to submit its SEC Form 10-Q for the quarter ended 1 July 2006, and any required restatements linked to its stock options probe by that time. Other companies have faced shareholder lawsuits over the issue.
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Penalties imposed on Microsoft by the European Union are unlikely to rein in the software giant and could result in higher costs for other software developers, regulators said on Friday.
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South Korea-based Hynix said it would respond to the actions and take appropriate &quot;countermeasures&quot; after reviewing the lawsuits more closely.
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Toshiba is taking action to protect its patents. The Japan-based company has accused Hynix Semiconductor of violating seven patents in the United States, including ones for DRAM, and three flash-memory patents in Japan.
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Two big US brokers have agreed to pay fines of USD100m to the market&#39;s watchdog for hyping stock. They have agreed the fines with the Securities and Exchange Commission (SEC) for &quot;inappropriate analysis of stocks&quot;.
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Microsoft has lost its appeal against a record 497m euro fine imposed by the European Commission in a long-running competition dispute. A probe concluded in 2004 that Microsoft was guilty of freezing out rivals in server software and products such as media players.
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TOKYO : Japanese electronics giant Toshiba said it was taking legal action against major South Korean microchip maker Hynix in Tokyo and Texas for alleged infringement of Toshiba&#39;s semiconductor memory patents.
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SEOUL (AFX) - The Financial Supervisory Service has announced that Hynix Semiconductor Inc engaged in fraudulent accounting practices involving 1.98 trln won in 1999, but has already corrected this error.
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Bee Staff Writer. In what insurance officials are calling one of the largest fines for workers&#39; compensation fraud, two Southern California firms have been ordered to pay $14.6 million
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Prosecutors said yesterday they were investigating an accounting fraud of almost 2 trillion won ($1.7 billion) at Hynix Semiconductor that began in 1996 and ended in 1999.
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Morningstar Inc., the mutual fund and stock research provider, on Friday said it may face US Securities and Exchange Commission civil charges over incorrect data it published about a mutual fund.
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The European Union on Thursday threatened Microsoft Corp. with fines of up to $4 million a day, claiming the software giant had failed to live up to promises for providing affordable and useful information that could help rivals make software for workgroup servers compatible with its Windows system.
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You will comply The European Commission has warned Microsoft it could face further penalties over what it calls "unreasonable pricing" of interoperability information.â¦