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Nortel settles class action suit for $2.5 billion

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Nortel settles class action suit for $2.5 billion

Accounting scandals can be very costly. That would seem to be an obvious lesson in recent years, a settlement reached today by Nortel Networks helps to further underscore that point.

Today, Nortel announced a deal to settle a class-action lawsuit relating to its 2004 accounting scandal. The cost? A cool $2.5 billion.

Read the complete story here. (internetnews.com)

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