The following excerpt is from the SEC website:
“The U.S. Securities and Exchange Commission today announced that, on October 21, 2011, the United States District Court for the Northern District of California entered a settled final judgment against Mark Leslie, the former Chief Executive Officer of Veritas Software Corporation, in SEC v. Mark Leslie, Kenneth E. Lonchar, Paul A. Sallaberry, Michael M. Cully, and Douglas S. Newton, Civil Action No. 07 CV 3444 (JF) (PSG) (N.D. Cal. filed July 2, 2007).
The final judgment resolves the Commission's case against Leslie. The Commission's amended complaint alleges that Leslie and the remaining defendants in this action inflated Veritas' reported revenues by approximately $20 million in connection with a software sale to AOL. The complaint further alleges that Leslie failed to disclose material information to Veritas' independent auditors in violation of the federal securities laws.
Without admitting or denying the allegations in the complaint, Leslie consented to entry of a final judgment permanently enjoining him from future violations of Rule 13b2-2(a)(2)of the Securities Exchange Act of 1934 and ordering him to pay disgorgement and prejudgment interest of $1,550,000 and a civil penalty of $25,000.
Kenneth E. Lonchar and Paul A. Sallaberry remain as defendants in the Commission's action.”
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