December 31, 1997 |
Donald Kessler, a former stock promoter and chief executive of a New York asbestos-removal company, pleaded guilty to insider trading, income tax evasion and stock fraud. Kessler, 54, pleaded guilty in federal court in Brooklyn to misusing inside information about Spectrum Information Technologies Inc. and manipulating shares of Comprehensive Environmental Systems Inc., U.S. Atty. Zachary Carter said.
February 8, 1994 |
It may have been one of the worst career moves of all time. In October, John Sculley--having worn out his welcome at Apple Computer--joined a small, unproven, communications company called Spectrum Information Technologies. On Monday, he resigned--and filed a lawsuit against the executive he says recruited him to the job under false pretenses. It's a bizarre, tragicomic saga that may permanently blacken the reputation of one of the nation's most prominent business executives.
February 10, 1994 |
In a blistering counterattack against John Sculley, Spectrum Information Technologies said it filed a $300-million lawsuit Wednesday against its former chairman, charging that Sculley's resignation two days earlier was the culmination of an elaborate conspiracy. A spokesman for Sculley called the Spectrum lawsuit "a complete work of fiction."
January 26, 1994 |
John Sculley, the former boss at Apple Computer Inc. who is now chairman of tiny Spectrum Information Technologies, on Tuesday denied a report that he is leaving the wireless communications company. But the television report, by columnist Dan Dorfman, also alleged that the Securities and Exchange Commission is investigating the company, and it sparked frenzied trading in Spectrum shares, which tumbled $1 to $6.31 on the Nasdaq.
March 9, 2000 |
Rocky Aoki, founder of the Benihana Japanese restaurant chain, was sentenced to three years of probation and fined $500,000 for illegally profiting from a 1993 tip that Spectrum Information Technologies Inc. was about to hire former Apple Computer Inc. chief John Sculley. The restaurateur was charged in 1998 with insider trading by the U.S. attorney in Brooklyn, N.Y.