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the stock. Jakob pled guilty and was sentenced to 44 months in prison, forfeiting the gains and owing an additional $ 103,000 in penalties. Jakob's fraud cost Emulex shareholders almost $ 110 million.
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to halt trading, which it did at 10:29 a.m. Once the release had been conclusively debunked, trading resumed on Emulex and the share price recovered almost immediately to close at $ 105.75.
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Dear Valued
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280:: Securities and Exchange Commission, Litigation Release No. 17094, August 8, 2001.
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perpetrated by 23-year-old Mark Jakob on August 24, 2000.
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