Former Vitesse Semiconductor Corp. Chief Executive Officer Louis Tomasetta and ex-Executive Vice President Eugene Hovanec were charged by the U.S. with securities fraud stemming from an options-backdating scheme.
General Motors Co.’s brands all scored average or better for the first time since J.D. Power & Associates started studying the dependability of three-year-old vehicles 25 years ago. Industrywide quality had its first drop since 1998.
ValueClick Inc., the Westlake Village, California-based Internet-advertising company, fell after forecasting second-quarter revenue that trailed analysts’ estimates as the company reduces paid traffic in its Owned & Operated unit.