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.
October 19, 1993 |
John Sculley, who resigned Friday as chairman of Apple Computer Inc., raised more than a few eyebrows Monday with the announcement that he will head Spectrum Information Technologies Inc., a small and controversial wireless communications company. Sculley is believed to have been a candidate for the top job at Eastman Kodak Co., and many observers had assumed he would land at a major company.
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 11, 1994 |
John Sculley and Spectrum Information Technologies have agreed to drop the lawsuits they filed against one another after Sculley quit the company last month--thus halting, at least temporarily, one of the most colorful public spats in the business world.