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Nortel Networks 8-K 2007

Documents found in this filing:

  1. 8-K
  2. Ex-99.1
  3. Graphic
  4. Graphic
e8vk
 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)   OCTOBER 15, 2007
     
NORTEL NETWORKS CORPORATION
 
(Exact name of registrant as specified in its charter)
         
CANADA
  001-07260   98-0535482
 
(State or other jurisdiction
of incorporation)
 
 
(Commission
File Number)
 
 
(IRS Employer
Identification No.)
     
195 THE WEST MALL, TORONTO, ONTARIO, CANADA
  M9C 5K1
 
(Address of principal executive offices)
 
 
(Zip Code)
Registrant’s telephone number, including area code   905-863-7000
     
 
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 1.01     Entry into a Material Definitive Agreement
On October 15, 2007, Nortel Networks Corporation (NNC) announced that it and its principal operating subsidiary, Nortel Networks Limited (NNL), reached a settlement on all issues with the United States Securities and Exchange Commission (SEC) in connection with the SEC’s investigation of certain prior accounting practices at the company. Nortel Networks Corporation and NNL entered into a Consent agreement whereby, without admitting or denying the SEC’s allegations, Nortel Networks Corporation agreed to pay a civil penalty of US$35 million and disgorgement in the amount of $1 within 10 business days after entry of the Final Judgment, and NNC and NNL consented to be restrained and enjoined from future violations of the antifraud, reporting, books and records and internal control provisions of federal securities laws. Further, NNC and NNL will provide to the SEC quarterly written reports detailing progress in implementing the company’s remediation plan and actions to address its outstanding material weakness in internal controls.
Item 9.01(d)     Financial Statements and Exhibits
     
99.1
  Press release issued by the registrant on October 15, 2007.

2


 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
   
NORTEL NETWORKS CORPORATION

 
 
  By:   /s/  David W. Drinkwater    
    David W. Drinkwater   
    Chief Financial Officer
 
     
  By:   /s/  Anna Ventresca    
    Anna Ventresca   
    Assistant Secretary   
 
Dated:  October 19, 2007

3


 

EXHIBIT INDEX
     
Exhibit No.   Description
 
99.1
  Press release issued by the registrant on October 15, 2007.

4

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