Motorola agrees to settle SEC case
From Times Wire Services
Motorola Inc. agreed to pay $25 million to settle Securities and Exchange Commission accusations that it helped Adelphia Communications Corp. deceive investors.
Motorola engaged in so-called round-trip deals with Adelphia that the cable TV company used to falsify financial data in 2000 and 2001, the SEC said Tuesday. Adelphia filed for bankruptcy in 2002 after disclosing $2.3 billion in hidden debt. Time Warner Inc. and Comcast Corp. acquired Adelphia’s assets last year.
Motorola neither admitted nor denied wrongdoing.
