(Reuters) - The company will pay C$1 million toward the cost
of the Ontario securities watchdog's investigation into its
accounting, but Nortel will not have to pay any monetary
penalty, in part because it cooperated with the commission's
investigation.
A penalty on top of Nortel's remedial costs to date, which
include the costs of outside investigations, restating
financial results and settling class-action lawsuits, would not
serve as an additional deterrent to similar cases, said Wendell
Wigle, chairman of the OSC's three-member panel.
Read more at Reuters.com Government Filings News
of the Ontario securities watchdog's investigation into its
accounting, but Nortel will not have to pay any monetary
penalty, in part because it cooperated with the commission's
investigation.
A penalty on top of Nortel's remedial costs to date, which
include the costs of outside investigations, restating
financial results and settling class-action lawsuits, would not
serve as an additional deterrent to similar cases, said Wendell
Wigle, chairman of the OSC's three-member panel.
Read more at Reuters.com Government Filings News
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