Report: Kan. gov. candidate's firm settled lawsuit

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TOPEKA, Kan. (AP) -- A Kansas newspaper is reporting that a Democratic candidate for governor led a company that settled a securities fraud lawsuit for nearly $13 million.

The Topeka Capital-Journal reported on its Web site Thursday that the settlement was approved by a judge in California just a week before Tom Wiggans opened his campaign. No other Democrat is campaigning.

Wiggans, who now lives in Olathe, was chief executive officer of Connetics Corp. of Palo Alto, Calif. Shareholders filed suit alleging that company executives hid defects in an acne medication in 2004 and 2005, then sold their stock before the problem became public.

A Wiggans spokeswoman says there was no finding of wrongdoing.