Vitesse Semiconductor this morning reduced its guidance for the fiscal fourth quarter ended September 30.
Vitesse Semiconductor and its executives manipulated revenue and backdated stock options to enrich their results and themselves.
FORBES: Judge Rakoff Indicts No-Fault Securities Settlement Syndrome
The roughest spot is in communications-infrastructure chipmakers, companies like Vitesse Semiconductor , Applied Micro Circuits , PMC Sierra .
The 28-year-old Serbia and Montenegro cap is currently at Dutch club Vitesse Arnhem and has been a target for Portsmouth.
The SEC settled with the company itself a while ago, but Vitesse successfully sued their auditor, KPMG, for missing the scheme.
Heerenveen notched their first victory of the season with a 1-0 home win that left Vitesse Arnhem second from bottom with just one point.
Bugatti showed the Veyron Grand Sport Vitesse, a 1, 200-horsepower convertible packed with a 8.0-liter, quad-turbocharged W16 engine that tops out at 267 miles per hour.
Others boasted about double-digit growth in Asia or the fact that an American casino heir had an extremely expensive timepiece custom-made to match his Bugatti Vitesse.
Hublot showed off its newest Big Bang Ferrari and Parmigiani Fleurier showed its new Bugatti Vitesse titanium watch and the Bugatti Super Sport watch in rose gold.
The SEC asked Rakoff to approve relatively light penalties for two low-level executives in exchange for their cooperation in prosecuting the Vitesse CEO and another senior company officer.
FORBES: Judge Rakoff Indicts No-Fault Securities Settlement Syndrome
Vitesse successfully sued their auditors, KPMG, for missing the shenanigans.
FORBES: Judge Rakoff Indicts No-Fault Securities Settlement Syndrome
According to the New York Times, the SEC recently filed charges against the former Vitesse CEO and an EVP for a chestnut of a case going back to 2001-2006.
FORBES: Judge Rakoff Indicts No-Fault Securities Settlement Syndrome
The U.S. Securities and Exchange Commission and the Department of Justice are currently looking into the circumstances surrounding the granting of options within at least 25 public companies, including UnitedHealth Group, Vitesse Semiconductor and Affiliated Computer Services.
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