Financial Accounting Blog

Tuesday, May 25, 2004

According to the SEC has issued the largest fine ever for noncooperation to Lucent and its executives.
The Securities and Exchange Commission fined Lucent Technologies Inc. $25 million for not cooperating with an investigation of its accounting practices and charged 10 executives with securities fraud and helping Lucent violate federal securities laws.

This is the largest penalty imposed on a company for not cooperating with an SEC probe.