Former Lucent employees get SEC 'Wells' notices


 CHICAGO, Nov 8 (Reuters) - Lucent Technologies Inc. (LU.N: Quote, Profile, Research) said on Monday three past employees, including its former chief executive, have been notified that U.S. regulators are considering recommending civil action against them related to bookkeeping in its Saudi Arabia operations.

 Shares in Lucent, a global provider of telecommunications equipment, fell 1 percent in after-hours trading.

 The so-called "Wells notices" from the U.S. Securities and Exchange Commission (SEC) to the former employees result from a an investigation by the SEC and the Department of Justice related to Lucent's business in Saudi Arabia between 1997 and 2000, the company said in an SEC filing.

 The company said it has not received a Wells notice, but that the investigation is continuing.

 The former employees include past Chairman and CEO Richard McGinn, John Heindel, prior head of Lucent's Saudi Arabian operations, and a third employee who was not named.

 The SEC declined to comment. The Justice Department did not have an immediate comment.

 "These Wells notices state that the staff of the SEC is considering recommending that civil actions be taken against these three former employees for violations of the Foreign Corrupt Practices Act (FCPA)," Lucent said in the filing.

 "The allegations against these individuals include violations of the anti-bribery provisions of the FCPA and aiding and abetting the company's alleged violations of requirements under the FCPA to keep accurate books and records and to maintain a proper system of internal accounting controls."

 Shares of Lucent fell 1 percent to $3.61 in after-market trading on INET from a close of $3.65 on the New York Stock Exchange.