Defendant Name: Sycamore Networks, Inc.

Defendant Type: Public Company

Document Reference: court_doc6_08-cv-11166

Document Details

Legal Case Name SEC v. Sycamore Networks, Inc., Frances M. Jewels, Cheryl E. Kalinen, and Robin A. Friedman
Document Name Final Judgment as to Defendant Sycamore Networks, Inc.
Document Date 10-Jul-2008
Document Format Civil Proceeding
Case Number 08-cv-11166
Federal District Court Massachusetts, District of Massachusetts
Federal District Judge Douglas P. Woodlock
Allegation Type Issuer Reporting and Disclosure
Document Summary 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"

Disgorgement & Penalty Information

Resolutions
Enjoinment
Undertakings Specified in Defendant’s Consent

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."

Other Defendants in Action:

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