“Loans made to Sonicblue executives and board members were aboveboard, the company’s newly appointed CEO said Friday. ‘There is nothing about these loans that is hidden or is illegal,’ interim CEO L. Gregory Ballard said on a conference call with analysts, reporters and investors. The consumer-electronics maker announced late Thursday that it had fired CEO and Chairman Ken Potashner and replaced him with Ballard, the company’s top marketing executive. The termination was effective immediately. Ballard also categorically denied that the dismissal was related to the loans…”
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