Technology

Ex-Gemstar CFO Settles with SEC

2/07/2006 11:41 AM Eastern

Former Gemstar-TV Guide International Inc. chief financial officer Elsie Leung will pay more than $1.3 million to settle civil charges that she participated in a scheme to inflate the company's licensing and advertising revenue, AP reported.

Leung also accepted a permanent ban on serving as an officer or director of a public company, and she settled with the Securities and Exchange Commission without admitting or denying wrongdoing, according to AP.

Leung agreed to pay $600,000 plus interest, representing bonus money she earned during the relevant period, and a $750,000 civil penalty, AP reported.

AP added that the SEC's charges against former Gemstar-TV Guide chairman and CEO Henry Yuen are pending and await a court decision.

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