Nortel has filed suit in Canadian courts seeking to recover bonuses paid to fired CEO Frank Dunn and two other executives.

Nortel fired Dunn, former chief financial officer Douglas Beatty and former controller Michael Gollogly last year when a financial scandal erupted at the Canadian-based networking firm. The three and others were dismissed “for cause”, Nortel said.

In the suits, Nortel said Dunn, Beatty and Gollogly received bonuses of $10.5 million that were based on inflated profits in Nortel financial reports.

Norel has restated financial reports dating back several years.

Nortel: www.nortel.com
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