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BUSINESS
April 11, 2003 | Richard Verrier
French bank BNP Paribas denied that it incorrectly accounted for the shareholdings of former Vivendi Universal Chief Executive Jean-Marie Messier in December 2001. The bank, which tracks share sales of Vivendi directors, issued the statement after Messier complained that Vivendi had incorrectly suggested he sold more than 200,000 shares in the first half of 2002, instead of late 2001. Messier has blamed an administrative error at the bank.
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BUSINESS
January 25, 2005 | From Dow Jones/Associated Press
The Securities and Exchange Commission charged Penthouse International Inc., a former executive of the publishing company and a former shareholder with accounting fraud. Penthouse founder Robert Guccione agreed to settle related SEC allegations that he misled investors. Guccione, who resigned from the company in 2003, settled without admitting or denying the SEC's claims.
REAL ESTATE
January 20, 1985
Joe Turmell of the Santa Monica Bank will speak on "What Do Banks Want From CPAs" at the 6 p.m. Tuesday meeting of the American Society of Women Accountants at the Cove Restaurant, 3191 West 7th St. The society has awarded scholarships to five outstanding women accounting students: Emily Chan, Cal State Los Angeles; Jane Bulante, Loyola Marymount University; Sylvia Roscha, Mount St. Mary's College; Patricia Ruppel, USC and Melissa Martinez, Woodbury University.
BUSINESS
November 13, 2002 | Thomas S. Mulligan, Times Staff Writer
A new watchdog board created to address the recent wave of corporate accounting scandals was rendered leaderless Tuesday, as former FBI Director William H. Webster resigned the top post amid what he called a "perfect storm" of controversy surrounding his appointment. Webster's action capped weeks of tumult stemming from a bitterly divided 3-2 vote of the Securities and Exchange Commission on Oct. 25 that approved his nomination.
BUSINESS
September 13, 2003 | From Bloomberg News
Vivendi Universal said it received a report from France's stock market regulator about a probe of the company's financial accounts under former Chief Executive Jean-Marie Messier. Vivendi has three months to respond to the notice from the regulator, the Commission des Operations de Bourse, the Paris-based company said.
NATIONAL
May 31, 2003 | From Associated Press
Halliburton Co. said Friday it has agreed to pay $6 million to settle 20 shareholder lawsuits that accused it of using deceptive accounting practices while Vice President Dick Cheney led the company. The lawsuits challenged the way that the oil-field-services company counted revenue from cost overruns and change orders on long-term fixed-price construction projects.
BUSINESS
July 19, 2002 | Associated Press
PNC Financial Services Group Inc. avoided monetary penalties, but will face stricter federal scrutiny after regulators questioned its accounting and record-keeping practices. The Securities and Exchange Commission said the bank tried to conceal $762 million in potential liabilities last year by transferring them to three subsidiaries created for that purpose.
BUSINESS
December 21, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
In a flurry of activity this week, accounting rule makers announced plans to set standards that may cost individuals and industry billions of dollars. The Financial Accounting Standards Board, an organization that sets rules for financial reporting at publicly held companies, sent out two separate "statements" advising companies and accountants of upcoming changes this week.
BUSINESS
August 3, 2002 | From Bloomberg News
Federal regulators have proposed new accounting rules after an audit found that two Enron Corp. pipelines may have improperly funneled $1 billion to the energy trader in the weeks before it filed for bankruptcy. The rules, which would apply to at least 400 utilities and energy pipelines, would help insulate customers from the costs of a bankruptcy by non-regulated companies that own the businesses, according to the Federal Energy Regulatory Commission proposal.
BUSINESS
August 13, 2002 | Bloomberg News
Inamed Corp., the maker of a surgical device to treat obesity, said it's reviewing the way it accounted for debt, taxes and warranties for breast implants and may have costs of as much as $10.5 million. The announcement, made after the markets closed, sent shares of the Santa Barbara-based company down as much as $4.19, or 23%, to $14.22 in after-hours trading. They had closed up 11 cents at $18.41 on Nasdaq.
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