Ex-Nortel CEO, CFO battle for legal relief

Nortel Networks shareholders may be taking a bath as the company aggressively pursues a breakup plan and the stock goes into the black hole of having its trading suspended on the Toronto Stock Exchange, but they’ve got company. Two former execs--ex-CEO Frank Dunn and ex-CFO Doug Beatty, who were both fired in 2004--are scrambling to cover some of the cash they’re spending to defend themselves against accounting fraud allegations. Nortel's insurer has balked at paying the two execs multi-million dollar legal bills.

For more:
- see this Toronto Star article

Related articles
Three former Nortel execs charged with fraud 
SEC hounds former Nortel execs

Suggested Articles

Microsoft is bringing its cloud, AI and IoT expertise into a partnership with Land O'Lakes to help farming become more stable and profitable.

Vodafone Business checked the pulse of how business have handled the COVID-19 crisis, and found that "future ready businesses" will thrive.

Telia Carrier is marching forward with the expansion of its U.S. network with a new southeastern Dense Wave Division Multiplexing (DWDM) route.