HOLTSVILLE, N.Y.-Wireless and mobile device maker Symbol Technologies Inc. suffered further fallout from its Securities and Exchange Commission investigation, with its chairman of the board and executive vice president and general counsel resigning from the company.
“It is clear that improper finance and accounting activities occurred at Symbol Technologies during my tenure,” said Jerome Swartz, who will step down as the board’s chairman. “With the company’s internal investigation now essentially complete and corrective actions under way, I have decided to step down. Over the next year, I will be available to Symbol to conclude work aimed at securing its technology and intellectual property foundations.”
Swartz helped co-found Symbol in 1975. Richard Bravman, the company’s chief executive, will take over the chairman duties.
The SEC is investigating Symbol for accounting fraud in connection with its stated revenues during the past several years.
