March 23, 2005 |
A unit of Tyco International said Tuesday that it would appeal a federal court jury's verdict that it engaged in anti-competitive behavior and must pay $420 million to Irvine-based medical device maker Masimo Corp. In a case filed in U.S. District Court in Los Angeles, the jury Monday found that Pleasanton, Calif.-based Nellcor unlawfully excluded its rivals from the market for pulse oximeters, which monitor oxygen levels in blood.
March 17, 2005 |
The judge in the trial of former Tyco International Chief Executive L. Dennis Kozlowski told jurors Wednesday to rely solely on evidence in their fraud case, one day after WorldCom Inc. founder Bernard J. Ebbers was convicted of a similar crime in a courtroom down the street. "I know there's been a fair amount of publicity resulting from the verdict in an unrelated case," Justice Michael Obus told the state court jury in New York without mentioning Ebbers by name.
March 16, 2005 |
Tyco International Ltd.'s former director of executive compensation testified Tuesday that she was never told of millions of dollars in forgiven loans that former Chief Executive L. Dennis Kozlowski and his finance chief are accused of stealing. Former compensation executive Donna Sharpless told the jury at the fraud and larceny trial of Kozlowski and former Tyco Chief Financial Officer Mark Swartz that as a result, forgiven loans including $37.
March 15, 2005 |
A lawyer for Tyco International Ltd. testified Monday at the fraud trial of the company's former chief executive and finance chief that she was never told about millions of dollars in forgiven loans for the two executives. The statement by attorney Marian Tse contradicted testimony by government witness Patricia Prue, Tyco's former head of human resources. Prue said she asked Tse in November 2000 whether such loan forgiveness had to be reported to shareholders and was told that it didn't.
February 15, 2005 |
Tyco International Ltd.'s auditors knew about millions of dollars of bonuses that former Chief Executive L. Dennis Kozlowski was later accused of stealing, a witness at his fraud trial testified Monday. Patricia Prue, Tyco's former head of human resources, told jurors in a New York state court that the company's payroll and legal departments also knew about the payments, which were rewards to employees for their work on the public offering of shares in Tyco unit TyCom Inc.
February 11, 2005 |
Tyco International Ltd.'s former head of human resources testified that ex-Chief Executive L. Dennis Kozlowski, on trial for fraud, never asked her to keep bonus or other information secret from the company's directors. The testimony from Patricia Prue, who worked as a liaison to the board's compensation committee, undercuts prosecutors' contention that Kozlowski, 58, and former finance chief Mark Swartz, 44, awarded themselves millions of dollars in bonuses without the board's knowledge.
February 10, 2005 |
Tyco International Ltd.'s former head of human resources testified Wednesday that she thought at the time that the company's board was aware of millions of dollars in loan forgiveness awarded to top executives L. Dennis Kozlowski and Mark Swartz in 2000.
February 9, 2005 |
Tyco International Ltd.'s former lead director said the Bermuda conglomerate's ex-chief financial officer, now on trial, told him "not to worry about" a regulatory document that failed to spell out that the director could receive a fee from the company for brokering a deal. In his third day of testimony Tuesday, Frank E. Walsh Jr.
February 8, 2005 |
Tyco International Ltd.'s onetime lead director testified Monday that former Chief Executive L. Dennis Kozlowski had the authority to pay him $20 million in investment banking and legal fees. Frank E. Walsh Jr., a Tyco director from 1992 to 2002, said the conglomerate's board of directors never voted to approve investment banking or legal fees in his time on the board. That authority was instead delegated to Kozlowski, Walsh said.
February 4, 2005 |
Former Tyco International Ltd. director Frank Walsh told jurors that L. Dennis Kozlowski, on trial for fraud, asked him not to tell other board members about a $20-million finder's fee Walsh received for helping arrange an acquisition. Prosecutors have accused former Tyco Chief Executive Kozlowski and former finance chief Mark Swartz of paying Walsh the fee without the board's approval.