Business

Symbol Technologies' former executive barred, fined by SEC

By KEN SCHACHTERkenneth.schachter@newsday.comXkschach

A federal court has barred a former Symbol Technologies Inc. executive from serving as an officer of a public company and ordered him to pay $90,952 in the final judgment related to the Securities and Exchange Commission's investigation into the company's accounting fraud.

The judgment by U.S. District Court Judge Leonard Wexler earlier this week against Robert Asti, who served as vice president of the maker of bar code readers from 1999 to 2001, concludes the litigation against more than a dozen former executives at the Holtsville company, now part of Zebra Technologies Corp. Asti previously was sentenced to three years' probation after pleading guilty to federal criminal charges. Symbol paid $37 million in civil penalties related to the scheme to inflate its stock price and executive pay.

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A federal court has barred a former Symbol Technologies Inc. executive from serving as an officer of a public company and ordered him to pay $90,952 in the final judgment related to the Securities and Exchange Commission's investigation into the company's accounting fraud.

The judgment by U.S. District Court Judge Leonard Wexler earlier this week against Robert Asti, who served as vice president of the maker of bar code readers from 1999 to 2001, concludes the litigation against more than a dozen former executives at the Holtsville company, now part of Zebra Technologies Corp. Asti previously was sentenced to three years' probation after pleading guilty to federal criminal charges. Symbol paid $37 million in civil penalties related to the scheme to inflate its stock price and executive pay.

Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.