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Firm Under Fed Scrutiny
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Business New Haven
7/7/2003
By: BNH
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FAIRFIELD - Competitive Technologies has placed its chief financial officer on unpaid leave of absence and pink-slipped two vice presidents as part of what the company calls a cost-cutting plan. That reduces the number of full-time employees from 15 to 12 at the company, which helps to bring inventions to market. Last month the U.S. Securities & Exchange Commission (SEC) informed then-CFO Frank R. McPike Jr. that its investigators had recommended legal action against the company. However, a company spokesperson said the staff reduction was not related to the SEC investigation.
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