'Intelligent discontent is the mainspring of civilization.' -- Eugene V. Debs

Thursday, March 24, 2005

Richard Perle May Face SEC Suit 

from The New York Post:

Hollinger International director and former Pentagon bigwig Richard Perle might face civil charges for his involvement in the alleged looting of the company by ousted newspaper baron Conrad Black.

The Securities and Exchange Commission has warned Perle, the one-time "Prince of Darkness in the Reagan administration — that it is considering filing suit against him, according to Bloomberg News.

Perle confirmed he had received a so-called Wells notice — a formal warning that SEC staffers are prepared to bring charges — several months ago and that he had responded to the allegations.

The speed with which Black and Perle turned on each other was a sight to behold. Here's what Perle had to say about Black when the accusations started to fly last fall:

"The special committee has concluded that Lord Black and other members of the Ravelston Management Group misled the directors of Hollinger, including me, concerning the scope of their compensation, the payment of noncompete payments and the related-party nature of several transactions ... As the report shows, critical information was either not revealed or obscured as matters were presented to the audit and executive committees and the full board of directors. ... I did not participate in or profit in any way from the management agreements, related-party transactions or noncompete payments at issue."

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