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In the first legal challenge to the Sarbanes-Oxley Act, two executives have sued the SEC, the agency that administers the new statute, in federal court in California. Henry Yuen, former chief executive of Gemstar-TV Guide International, and Elsie Leung, the company's former chief financial officer, accuse the SEC of illegally withholding more than $37 million in severance payments they claim the company owes them.
April 11, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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