Defendant Name: Sycamore Networks, Inc.

Defendant Type: Public Company
SIC Code: 3660
CUSIP: 87120640

Initial Case Details

Legal Case Name SEC v. Sycamore Networks, Inc., Frances M. Jewels, Cheryl E. Kalinen, and Robin A. Friedman
First Document Date 09-Jul-2008
Initial Filing Format Civil Proceeding
Case Number 08-cv-11166
Allegation Type Issuer Reporting and Disclosure
Federal District Court Massachusetts, District of Massachusetts

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-11
• Rule 13a-13
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 14(a)
• Rule 14a-9
Securities Act
• Sec 17(a) (Not specified)
Additionally, Frances M. Jewels is alleged to have aided and abetted Sycamore Networks, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Frances M. Jewels is alleged to have aided and abetted Sycamore Networks, Inc.'s violation of Sec 13(a) of the Exchange Act.
Frances M. Jewels is alleged to have aided and abetted Sycamore Networks, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Frances M. Jewels is alleged to have aided and abetted Sycamore Networks, Inc.'s violation of Rule 13a-11 of the Exchange Act.
Frances M. Jewels is alleged to have aided and abetted Sycamore Networks, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Frances M. Jewels is alleged to have aided and abetted Sycamore Networks, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Frances M. Jewels is alleged to have aided and abetted Sycamore Networks, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Frances M. Jewels is alleged to have aided and abetted Sycamore Networks, Inc.'s violation of Sec 14(a) of the Exchange Act.
Frances M. Jewels is alleged to have aided and abetted Sycamore Networks, Inc.'s violation of Rule 14a-9 of the Exchange Act.

Resolutions

First Resolution Date 10-Jul-2008

Related Documents:

LR-20638 09-Jul-2008 Litigation Release
SEC Charges Sycamore Networks and Three Former Officials in Options Backdating Case
The Commission stated: "The Securities and Exchange Commission today filed a settled civil enforcement action against Sycamore Networks, Inc., an optical networking company based in Chelmsford, Massachusetts, as well as its former Chief Financial Officer Frances M. Jewels, former Director of Financial Operations Cheryl E. Kalinen, and former Director of Human Resources Robin A. Friedman in connection with the backdating of stock options to employees over several years and the failure to disclose options-related expenses to the company's auditors and investors."
2008-136 09-Jul-2008 Press Release--Civil Action
SEC Charges Sycamore Networks, Former Executives in Stock Options Backdating Case
The Commission Stated: "According to the SEC's complaint, filed in federal court in Boston, Sycamore's Chief Financial Officer Frances M. Jewels and Former Director of Financial Operations Cheryl E. Kalinen fraudulently backdated options grants to obtain more favorable options prices for employees. They misled the company's investors and auditors about the practice and did not disclose its consequent expenses in Sycamore's financial statements.
comp20638 09-Jul-2008 Complaint
Complaint
The Commission stated: "This matter involves improper accounting actions in connection with stock options backdating at Sycamore, a publicly-traded company headquartered in Chelmsford, Massachusetts. Between 1999 and 2002, Sycamore granted millions of stock options to its officers and employees without properly accounting for the options, resulting in the issuance of false or misleading financial statements in public filings with the Commission and the concealment of millions of dollars in stock compensation expenses."
court_doc6_08-cv-11166 10-Jul-2008 Court Docket Document
Final Judgment as to Defendant Sycamore Networks, Inc.
The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendant Sycamore Networks, Inc. ("Defendant") having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment"

Other Defendants in Action:

Cheryl E. Kalinen
Robin A. Friedman
Frances M. Jewels