S.E.C. Sues Ex-Officials of Delphi

"... The Securities and Exchange Commission filed civil fraud charges on Monday against nine former executives at the Delphi Corporation, the automotive parts supplier, accusing them of manipulating the company’s finances to project a healthy facade while it descended into bankruptcy.

But Delphi itself will not have to pay a fine or admit defrauding investors, under a settlement it reached with the S.E.C., which cited the company’s cooperation with investigators.

The settlement removes the cloud of a 27-month investigation and allows the company, which filed for bankruptcy protection a year ago, to proceed with its reorganization plan. ..."

Quelle: www.times.com