SEC May Pursue Former Lucent Execs
The report says Aversano and Plunkett received Wells notices, which indicate the SEC may pursue civil charges against the recipients. Aversano's notice supposedly requests details on Lucent's dealings with distributors, while Plunkett's supposedly relates to a $125 million credit offered to a wireless customer.
The SEC had previously investigated Lucent's accounting practices, a case that stemmed from the company's admission of a $679 million accounting discrepancy (see SEC Knocking on Lucent's Door). That case was settled in principle in February. Should the SEC approve the settlement, Lucent will pay no fines and will not have to restate its financial reports (see Lucent to Settle With SEC).
Lucent and SEC representatives both declined comment on the Journal story.
Aversano previously made headlines with a "whistleblower" lawsuit against Lucent, claiming she'd been fired in 2000 for criticizing then-CEO Richard McGinn. That suit was settled in January (see Lucent Puts Aversano Suit to Rest).
— Craig Matsumoto, Senior Editor, Light Reading