March 8, 2007
Former Gateway Execs Guilty of Securities Fraud
The Securities and Exchange Commission announced that a federal court jury late yesterday returned a verdict in the SEC's favor on all charges against the former chief financial officer, John J. Todd, and the former controller, Robert D. Manza, of Gateway Inc., the personal computer manufacturer. Todd and Manza were accused of engaging in a fraudulent revenue and earnings manipulation scheme to meet Wall Street analysts' expectations in 2000, and for concealing from the investing public important information about the success of Gateway's PC business.
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