UTStarcom: Fines, Disgorgement and Injunctions. Oh my!
Our good friends up the road in Alameda, UTStarcom(UTSI) haven’t had the best of times lately. As Michelle Leder at footnoted.org writes, this once robust telecom company last week announced it was firing 700 employees, about 11 percent of the workforce, and still faces investigations by the U.S. Department of Justice and the U.S. Securities and Exchange Commission. Yikes
But what’s really interesting is this little nugget that Leder unearthed from UTStarcom’s latest 10-K filed last week. The company warns that if those investigations result in charges, the company could “face sanctions including, but not limited to, fines, disgorgement and an injunction.”
Read her whole post here.
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