Defendant Name: Microtune, Inc.

Defendant Type: Public Company

Document Reference: LR-20633

Document Details

Legal Case Name SEC v. Microtune, Inc., Douglas Bartek, and Nancy Richardson
Document Name SEC Settles With Microtune Inc. and Sues Former Microtune Offi cers In Stock Option Backdating Scheme
Document Date 01-Jul-2008
Document Format Civil Proceeding
Case Number 08-cv-01105
Federal District Court Texas, Northern District of Texas
Allegation Type Issuer Reporting and Disclosure
Document Summary On July 1, 2008, the SEC stated that: "[It] filed civil fraud charges against Plano, Texas-based Microtune, Inc. and two former senior officers􀀀"former Chairman and Chief Executive Officer Douglas J. Bartek and former Chief Financial Officer and General Counsel Nancy Richardson. The SEC alleges that Bartek and Richardson perpetrated a fraudulent and deceptive stock option backdating scheme that awarded themselves and other employees millions of dollars in undisclosed compensation. The backdating scheme caused the Plano, Texas-based company to file materially false and misleading financial statements with the Commission."

Disgorgement & Penalty Information

Resolutions
Injunction

Related Documents:

comp20633 30-Jun-2008 Complaint
Complaint
The SEC stated: "From at least August 4, 2000, the effective date of Microtune's initial public offering, through mid 2003, Microtune, Inc., Douglas J. Bartek (Microtune's former Chief Executive Officer), Nancy A. Richardson (Microtune's former Chief Financial Officer and General Counsel) caused Microtune, Inc. to engage in a fraudulent stock-option backdating scheme. The backdating scheme was designed to provide executives and other employees with valuable "in-the-money" options without recording the required compensation expense in Microtune's books and records and financial statements."
court_doc6_08-cv-01105 03-Jul-2008 Court Docket Document
Final Judgment as to Defendant Microtune, Inc.
The Court stated: "The Securities and Exchange Commission (“Commission”) having filed a Complaint and Defendant Microtune, 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:

Douglas Bartek
Nancy Richardson