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Lucent settles with SEC

Lucent Technologies said Thursday that it has reached a settlement with the Securities and Exchange Commission over some of its accounting practices.

The company said it would not be required to pay any penalties or restate earnings, and it did not admit or deny wrongdoing. "We are very pleased to be able to put this issue behind us in this manner and totally focus on moving our business forward," Lucent CEO Patricia Russo said in a statement. Lucent drew the scrutiny of the SEC in late 2000, after restating its earnings because of accounting irregularities.