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The bill, adopted last summer amid a wave of accounting frauds, allows the SEC to freeze "extraordinary payments" to corporate executives in cases where fraud is suspected The SEC impounded severance payments to Yuen under the new Sarbanes-Oxley Act Gemstar stumbled last year when it lost a key patent case before the International Trade Commission media titan Rupert Murdoch and Liberty Media -based TV guide publisher last fall Yuen failed to testify this week as required by a court order issued in March, the SEC said The company was formed in 2000 when Gemstar, headed by Yuen, a scientist and lawyer, bought TV Guide, which was owned by News Corp in contempt for his failure to testify in an investigation of the company Yuen has 24 hours to file a reply showing why he should not be held in contempt, an SEC spokesman in Los Angeles said Yuen left the Pasadena, Calif Yuen's attorney, Stanley Arkin, said he and his client went to SEC offices Wednesday and asked to reschedule the date for testimony because of "some immediately pressing issues Regulators want the the court to have Yuen jailed and to impose a fine of $50,000, doubling daily, until he appears to testify Under the order, he was to testify Wednesday or Thursday Soon after, the company announced it had improperly recognized $20 million in revenue that was dependent on winning the patent case SEC Asks Court to Hold Yuen in Contempt Apr 18, 12:04 AM EST The Securities and Exchange Commission is asking a federal court to find the former chief executive of media company Gemstar-TV Guide International Inc " Yuen, who was forced to resign as the company's CEO in November, agreed last month to a court order compelling him to testify in the investigation Sharon Osbourne said the agent wasn't an invited guest " ICM said Tab won the necklace fair and square "Accordingly, ICM believes the Osbournes owe both Ms The pricey jewelry was raffled off by Sharon Osbourne and her rocker husband during a New Year's Eve party at which the couple renewed their wedding vows Sharon Osbourne Battles Talent Agent Jan 9, 10:14 AM EST The weird world of "The Osbournes" has gotten weirder, with Ozzy Osbourne's wife battling with a Hollywood talent agent over whether the agent belonged at a party where she won the door prize, a $15,000 necklace Tab and ICM an apology," the agency said Police Lt Gary Gilmond confirmed Wednesday that the Osbournes have filed a theft report "Sharon is disappointed that the situation has not been resolved," a spokeswoman for the couple told the syndicated TV show "Celebrity Justice But within days, the Osbournes reported that Tab had wrongly claimed the necklace The party was filmed as part of the hit MTV reality series "The Osbournes," which stars the Osbourne family The winner was Renee Tab of the powerful Hollywood talent agency ICM |
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