SEC probes Lucent-Winstar deal
The U.S. Justice Department is investigating a software-licensing deal between Lucent Technologies and now defunct Winstar Communications, according to documents Lucent filed with the SEC Tuesday.
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The deal, reached in September of 2000, forced Lucent to restate its earnings in the fourth quarter of 2000, as the vendor prematurely booked $125 million in revenues for the licenses. The U.S. Attorney’s office in Newark, N.J. informed Lucent of the investigation last week.
Since Winstar’s bankruptcy last year, it has sued Lucent for $10 million, claiming the vendor broke its strategic partnership agreement with the fixed wireless access carrier.
-- Kevin Fitchard, staff writer
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© 2012 Penton Media Inc.
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