Business Notes
Staff -- TWICE, 7/12/2004
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DeCorp Americas In Deal For Gemini To Market Flat Wire Line
HENDERSONVILLE, TENN.— DeCorp Americas, maker of flat wiring and interconnects, is teaming with accessories maker Gemini Industries in an OEM agreement, whereby Clifton, N.J.-based Gemini will market through its various brands the full line of DeCorp Invisible Wire solutions. The ultra-thin, surface-mounted wire product, called FlatWire Ready Invisible Wire Solution, includes audio, video, data, connectors and installation items. Gemini also will offer application kits for surround sound and flat panel televisions. Products will be sold to major North American retailers as available.
Gemstar-TV Guide Reaches $10 Million Settlement With SEC
LOS ANGELES— Gemstar-TV Guide International has reached an agreement with the Securities and Exchange Commission, resolving the SEC's investigation into the company for violating certain public reporting, record keeping and internal controls requirements. The complaint against Gemstar said the company inflated revenue by about $250 million for the period from 1999 through 2002. Under terms of the agreement, Gemstar will pay a civil penalty of $10 million without admitting or denying the allegations. The funds, which have already been set aside, will be distributed to shareholders. The SEC had filed a lawsuit against Gemstar late in June, then agreed to settle.
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