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Article2LiventCNN2 - Ex Livent execs indicted January 13,...

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Ex Livent execs indicted January 13, 1999: 5:55 p.m. ET Drabinsky, Gottlieb charged with fraud and pocketing $4.6M; SEC also files suit NEW YORK (CNNfn) - The former chairman and president of Toronto-based Livent Inc., the producer of the Broadway show "Phantom of the Opera," were indicted Wednesday on charges they bilked about US$4.6 million and "cooked the books" at the theatrical company to cover massive losses. The indictment filed in U.S. federal court in Manhattan named Garth Drabinsky, Livent's former chairman, and Myron Gottlieb, former president in 16 felony counts of violations of securities laws. The two co-founders of the company, who were ousted when Livent filed for bankruptcy last November, were among 9 former officers named in a related civil suit filed by the U.S. Securities and Exchange Commission for accounting fraud from 1990 to 1998. "The action charges the former senior management with fraud in their role in a multi- faceted and pervasive scheme to cook Livent's books," said Richard Walker, director of
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This note was uploaded on 09/01/2010 for the course BAT4M BAT4M taught by Professor Katz during the Fall '05 term at Acadia.

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Article2LiventCNN2 - Ex Livent execs indicted January 13,...

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