S.E.C. Accuses Saks of Deceit on Earnings
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Regulators alleged that misconduct at Saks Fifth Avenue Enterprises resulted in misstatements of the companyâs earnings.
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Earnings woes, an SEC probe, and a scuffle with Disney spell trouble.
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The agency had accused an executive at Brightpoint Inc. of overstating the companyâs actual earnings through improper use of an insurance policy.
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The S.E.C. notified the top three executives of the American Stock Exchange that they may face civil charges of failing to properly enforce the exchange's rules.
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Former Computer Associates International executives Sanjay Kumar and Stephen Richards have been indicted for their role in a companywide accounting fraud scheme. At the same time, the company agreed to pay $225 million in restitution to victims of the fraud.
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The company said a subsidiary had improperly obtained documents from its archrival Oracle but disputed the extent of the offense.
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Morningstar Inc., the mutual fund and stock research provider, on Friday said it may face US Securities and Exchange Commission civil charges over incorrect data it published about a mutual fund.
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Fannie Mae&#39;s chief executive on Wednesday defended accounting practices at the embattled mortgage company and disputed allegations that earnings were manipulated.
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IBM  misled investors by overestimating the impact of stock-based compensation expenses on quarterly earnings in 2005, the U.S. Securities and Exchange Commission said on Tuesday.
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Several former Nortel Networks executives are accused of accusing twisting accounting practices to make it seem that the company was meeting Wall Street expectations.
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Nine vendors have been charged with  creating false account records in a scheme that allowed U.S.  Food Service Inc., a unit of Dutch retailer Ahold N.V.  AHLN.AS, to inflate earnings by more than $800 million,  federal prosecutors said on Thursday.
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A tobacco firm has said allegations it covered up evidence of the harmful effects of passive smoking are &quot;false, inaccurate and highly misleading&quot;.
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French banking giant Societe Generale said Thursday a single trader who fooled his bosses carried out a massive 4.9 billion euro (7.15 billion dollar) fraud -- one of the biggest in financial history.
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An official of the Securities and Exchange Commission said Wednesday a review had found that the firm had violated accounting rules and that he had told the mortgage giant to restate its earnings.
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EDS is to counter-sue BSkyB after the satellite television group launched a lawsuit against the IT specialist alleging &quot;deceit, negligent misrepresentation and breach of contract&quot;.
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Nine employees or agents of companies that supplied products to U.S. Foodservice Inc. were charged Thursday with falsifying records that helped the company inflate earnings by more than $800 million.
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Ten employees have been caught faking orders in order to receive kickbacks, Japanese electronics maker NEC disclosed on Tuesday. In total, the ten made over $4.1 million on $18 million in forged orders.