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Violation Tracker Individual Record

Company: Nortel Networks Corporation
Penalty: $35,000,000
Year: 2007
Date: October 15, 2007
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Mega-ScandalEarly 2000s Accounting Scandals
Violation Description: Nortel Networks Limited agreed to pay $35 million to settle allegations that it engaged in accounting fraud from 2000 through 2003 to close gaps between its true performance, its internal targets and Wall Street expectations.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.