Frank Dunn’s Lawsuit

Anyone else wondering what’s going between Nortel and ex-CEO Frank Dunn. It’s been 20 months since he was fired for “cause”, and little has emerged in terms of Nortel suing Dunn, or Dunn suing Nortel. When and/or if the lawsuits are filed, they would hopefully provide some of the salacious details of what went down in early-2004 when Dunn and his CFO, Doug Beatty, and controller, Michael Gollogly, were abruptly terminated by Nortel amid an emerging accounting scandal. Did they really cook the books to trigger a lucrative bonus plan as Nortel alleges? If so, what role should the board play in approving a system that compelled these executives to go for the pot of gold at the end of the rainbow?
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