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Lucent Settles SEC Enforcement Action Charging the Company with $1.1 Billion Accounting Fraud (762 words) |
 | Lucent and three of the former Lucent employees agreed to settle the case without admitting or denying the allegations. |
| Lucent's statements were made after Lucent had agreed in principle to settle this case without admitting or denying the allegations concerning, among other things, the Winstar transaction. |
| Lucent's public statements undermined both the spirit and letter of its agreement in principle with the staff. |
| Fool.com: Lessons From Lucent (Special Report) January 13, 2000 (2224 words) |
| Lucent is the former Bell Laboratories, the research and development arm of AT&T that has spawned such telecommunications technologies as the T-1 circuit, digital signaling, and the Private Branch Exchange (PBX), upon which the majority of office telecommunications environments are currently run. |
| Lucent is seeing this convergence of voice, data, and Internet eat into its incumbent market as voice is only one component part of the new generation of networks. |
| All in all, not only did Lucent fail to manage its cash position to the detriment of its current shareholders, but also the analysts, whose job it is to serve as watchdogs for just these types of financial deterioration, did not notice or chose to ignore this problem. |
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