SEC Stops Seeking Yuen Punishment
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The Securities and Exchange Commission said it has dropped its request to jail and fine Gemstar-TV Guide International Inc.’s former Chief Executive Henry Yuen for refusing to testify about suspected accounting irregularities.
The SEC, which is investigating the Hollywood-based Gemstar’s accounting, said the contempt request has been moot since Yuen appeared on April 23 to testify, and invoked the privilege against self-incrimination.
Yuen’s attorney Stanley Arkin didn’t immediately return a call for comment.
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