Jury Rules Against Former Gateway Execs
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IRVINE, Calif. -- A federal jury ruled that two former Gateway Inc. executives manipulated earnings to meet analysts' expectations, the Securities and Exchange Commission said Thursday.
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Lawyers for IBM and Compuware on Tuesday picked a jury to settle Compuware's three-year-old piracy and antitrust claims.
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Two former executives at Gateway were found liable on claims that they manipulated financial results to meet Wall Street expectations in 2000.
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By Womack, Brian  A couple of local computer industry veteransLap Shun "John" Hui and Wayne Inouye-may come out of retirement to take on Europe.  Hui, who sold eMachines Inc. to Irvine-based Gateway Inc.
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UPDATED Two former Hewlett-Packard executives, plus three others outside of the company were indicted with in California late Wednesday on four felony charges. Those named in the indictments include former chairwoman Patricia Dunn.
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Gateway Inc. GTW.N on Thursday   named 30-year technology industry veteran J. Edward Coleman to   lead the computer maker as it seeks to win back market share   from larger rivals Dell Inc. DELL.O and Hewlett-Packard Co.   HPQ.N.
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HOUSTON - Jurors still have work to do after convicting several former Wall Street bankers and a former Enron Corp. finance executive Wednesday of conspiring to push through a sham deal.
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Computer maker Gateway Inc.'s  former finance chief and controller were found liable on civil charges they manipulated financial results to meet Wall Street expectations in 2000, the U.S. Securities and Exchange Commission said.
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Four former executives with computer networking and security vendor Enterasys Networks have been sentenced to prison terms for their roles in accounting fraud at the company that cost investors millions of dollars, the U.S. Department of Justice announced Tuesday.
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Two former midlevel executives at America Online were acquitted Tuesday on all counts of charges that they conspired with a now-defunct Las Vegas software firm to inflate its revenue with secret side deals and backdated contracts.
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As expected US authorities have charged former executives of Computer Associates with fraud. Amongst those charged were the former CEO Sanjay Kumar.
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11/4/04- A Houston jury has convicted 5 men of fraud and conspiracy, while acquitting the only female defendant in the trial of ex-Merrill Lynch and former Enron executives.
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Jurors began deliberations in the trial of six former Enron Corp. and Merrill Lynch &amp; Co. executives accused of fraud and conspiracy in the energy trader&#39;s 1999 sale of three power-generating barges.
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At least two former Hewlett-Packard executives, plus three others outside of the company are expected to be indicted in California as early as Wednesday on at least four felony charges. Those named in the indictments include former chairwoman Patricia Dunn.
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(InfoWorld) - Gateway has rejected an offer to sell its retail arm to the California man who founded the company's eMachines line. Lap Shun "John" Hui surprised Gateway's board in August when heÂ offered to buy their retail operationsÂ for a reported $450 million. Gateway issued a statement Friday saying it had decided that the offer was not in the best interest of its shareholders. In 2004, Gateway paid Hui $234 million to acquire his company eMachines, a line of entry-level PCs. Hui used the money to start an office supplies company, and still owns about 5 percent of Gateway's stock. Hui's offer would have stripped Gateway of its agreements with third-party resellers like Best Buy Co., Circuit City Stores, and Wal-Mart Stores. The company sells the rest of its computers through direct sales channels on the telephone and Internet, and through its professional business channel. Gateway, of Irvine, California, is the third-largest PC vendor in the U.S. but has posted financial losses for several quarters. Still, analysts said that breaking the company up would not have made it more competitive.
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A jury has convicted four former Merrill Lynch (MER) executives and a former midlevel Enron (ENRNQ) finance executive of conspiracy and fraud for helping push
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Former Computer Associates International executives Sanjay Kumar and Stephen Richards have been indicted for their role in a companywide accounting fraud scheme. At the same time, the company agreed to pay $225 million in restitution to victims of the fraud.