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Technology Stocks : Gemstar Intl (GMST)

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To: scott who started this subject	6/19/2003 3:49:00 PM
From: GGorillaGirl	Read Replies (1) of 6516

SEC charges former Gemstar-TV Guide execs Last Update: 6/19/2003 3:43:03 PM WASHINGTON (CBS.MW) -- The Securities and Exchange Commission filed civil charges against the former top officers of Gemstar-TV Guide for their roles in a "widespread and complex scheme to inflate Gemstar's licensing and advertising revenues." Named in the suit were Henry Yuen, 55, former CEO, and Elsie Leung, 57, former CFO. The SEC alleges they caused Gemstar to inflate its revenue by at least $223 million from March 2000 through September 2002. The SEC is seeking a lifetime officer and director ban against Yuen and Leung and forfeiture of their salaries, bonuses, and stock sales while the alleged fraud occured. Gemstar is a Los Angeles-based media and technology company. Its shares last traded down 33 cents to $5.16.

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