Nortel Networks said Wednesday that it plans to pay about $2.5 billion in cash and stock to settle two shareholder class action lawsuits, which arose from an accounting scandal under the company's ...

In addition, execs will give back millions of dollars in bonuses, says the company, which has been mired in an accounting scandal. Marguerite Reardon started as a CNET News reporter in 2004, covering ...

Can the staid Canadian network equipment provider checkmate faster, flashier enterprise players? Eighteen months into his tenure as CEO, former U.S. Navy Admiral Bill Owens has earned high marks from ...

Owens will take on Daichendt’s responsibilities as president and chief operating officer of Nortel Networks Corp. and Nortel Networks Ltd., which are based in Brampton, Ontario. It’s been barely a ...

(Reuters) - Nortel Networks Corp's wireless business goes on the auction block July 24, marking the first of the insolvent company's three key units to be put up for sale. Three bids have already ...

Gary Daichendt resigned as president and chief operating officer of Nortel Networks on Friday, after falling out with Chief Executive Officer Bill Owens. Chief Technology Officer Gary Kunis was caught ...

(Reuters) - Nortel Networks Corp, North America's biggest maker of telephone equipment, announced sweeping cost cuts on Monday that include another 1,300 layoffs after posting a $3.4 billion loss in ...