Former Merisel chief settles suit
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From Times Wire Services
Timothy N. Jenson, former chief executive of Merisel Inc., has agreed to pay a $275,000 penalty to end a federal lawsuit accusing him of a scheme to loot the software distributor.
In settling with the Securities and Exchange Commission, Jenson, 48, of Los Alamitos also agreed to be barred from serving as an officer or a director of a public company.
Neither Jenson nor another defendant, TDH Enterprises, a company he controls, admitted or denied the allegations. Jenson and TDH also were ordered to follow anti-fraud and other provisions of the federal securities laws.
