Tyco has agreed to dish out $50 million to settle federal securities charges regarding the company’s alleged participation in a $1 billion-plus accounting fraud scandal and violation of anti-bribery regulations, ending the long-running legal dispute that jailed its former top executives, The Wall Street Journal reports.Though Tyco did not admit any illegal action on its part, the company said it would refrain from committing any additional accounting fraud and pay a dollar disgorgement fee as well as a $50 million charge as punishment, according to The Journal.The settlement puts an end to Tyco’s regulatory issues; however, a company spokesperson told The Journal that it still faces “active litigation” on the behalf of shareholders.In May, Tyco logged a charge in the amount of $50 million, which it said would be used to settle the Securities and Exchange Commission charges, according to The Journal, but that case dragged on for almost a year because the SEC couldn’t come to an agreement on when corporations involved in financial fraud should be penalized and because it was still finalizing a list of what should be considered when those fines are handed down. The new guidelines, released in January, indicate the SEC should consider a number of points before issuing fines, including how shareholders benefited from a specific fraud and how a given penalty would affect those shareholders, The Journal reports.The SEC complaint charges Tyco with falsely boosting its financial statement by upward of $1 billion between 1996 and 2002, according to The Journal. Keep checking in at our CSO Security Feed page for updated news coverage. Related content feature Top cybersecurity M&A deals for 2023 Fears of recession, rising interest rates, mass tech layoffs, and conservative spending trends are likely to make dealmakers cautious, but an ever-increasing need to defend against bigger and faster attacks will likely keep M&A activity steady in By CSO Staff Sep 22, 2023 24 mins Mergers and Acquisitions Mergers and Acquisitions Mergers and Acquisitions brandpost Unmasking ransomware threat clusters: Why it matters to defenders Similar patterns of behavior among ransomware treat groups can help security teams better understand and prepare for attacks By Joan Goodchild Sep 21, 2023 3 mins Cybercrime news analysis China’s offensive cyber operations support “soft power” agenda in Africa Researchers track Chinese cyber espionage intrusions targeting African industrial sectors. By Michael Hill Sep 21, 2023 5 mins Advanced Persistent Threats Cyberattacks Critical Infrastructure brandpost Proactive OT security requires visibility + prevention You cannot protect your operation by simply watching and waiting. It is essential to have a defense-in-depth approach. By Austen Byers Sep 21, 2023 4 mins Security Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe