Jury finds ex-Hayes Lemmerz execs liable for fraud

Newswire

WASHINGTON, Aug 21 (Reuters) - A federal jury has found the former chief executive and chief financial officer of auto parts manufacturer Hayes Lemmerz International Inc liable for securities fraud, the U.S. Securities and Exchange Commission said on Thursday. The SEC said ex-CEO Ranko Cucuz and ex-CFO William Shovers engaged in an accounting scheme to reach corporate earnings targets and mask declining operating results. The verdict on Wednesday followed a two-week jury trial at the ...

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