Sarbanes-Oxley News & Developments
Adelphia, Rigas Family Settle Fraud CaseThe Rigas family will forfeit $1.5 billion; the company will pay $715 million to create a fund to compensate victims of 'one of the most extensive financial fraud ever to take place at a public company.'
SEC Investigating BearingPointThe SEC has requested documents concerning the internal control deficiencies identified last month, according to the consultancy.
Prosecutors Finally Rest in Scrushy CaseGovernment attorneys have moved to block the testimony of a prospective witness who the defense may call to testify about the authenticity of secretly taped conversations with a former CFO.
KPMG Settles Xerox Charges with SECKPMG permitted Xerox to "manipulate its accounting practices" to close a $3 billion gap between actual operating results and results reported to the investing public, according to the SEC.
Coke Probes Completed by SEC, DoJCoca-Cola was 'basically robbing from their future earnings,' an SEC lawyer reported asserted; 'there would have been no fraud had they made a disclosure of that practice.'
Dynegy Pays $468M to Settle SuitLast year, former midlevel executive Jamie Olis received a 24-year sentence without parole for his part in a sham transaction.
Enron Broadband Trial BeginsWhatever happens in the Houston courtroom may foreshadow the outcome of the Lay, Causey, Skilling trial.
What is Next for Section 404?SEC chairman William Donaldson and PCAOB chairman William McDonough seem to suggest that they believe this provision of Sarbanes-Oxley goes too far.
Former EasyLink CFO Settles ChargesDuring the period when EasyLink improperly recognized and reported advertising revenue from barter transactions, SEC Chairman William Donaldson was a director of the company and served on the audit committee.
The Limits of MercyThe cost of cooperating with the SEC is high. The cost of not cooperating is even higher.
False Records Said to Be Found at FannieJournal entries containing falsified signatures reportedly helped Fannie Mae meet earnings targets and ultimately led to the payment of big executive bonuses.
Late Filers Face DelistingNearly 300 companies recently asked for a 15-day extension for filing their 10-K, but dozens of them reportedly failed to meet even the extended deadline.