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Arthur Andersen

BUSINESS
June 10, 2002 | Associated Press
Juors deliberating the fate of Arthur Andersen on charges of obstruction of justice will resume this morning in Houston after meeting over the weekend without reaching a verdict. The nine-man, three-woman jury, which is being sequestered, has been deliberating since Thursday. They met on Saturday and on Sunday at the federal courthouse. At one point Sunday they asked for a dictionary. U.S.
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BUSINESS
July 16, 2002 | From Bloomberg News
Arthur Andersen lost its last audit client in the Standard & Poor's 500 index as Freeport-McMoRan Copper & Gold Inc. dropped the disintegrating accounting firm and hired Ernst & Young. Andersen had been Freeport's auditor since 1988, said New Orleans-based Freeport, owner of the world's largest gold mine. Andersen, Enron Corp.'s auditor for 16 years, was convicted last month of obstructing a U.S. investigation of Enron's collapse. It will stop auditing public companies by Aug. 31.
BUSINESS
May 2, 2001 | Associated Press
Accounting firm Andersen has agreed to pay $110 million to Sunbeam Corp. shareholders to settle a fraud lawsuit concerning its work for the struggling appliance maker. The settlement is the second-largest ever paid by an accounting firm in a securities lawsuit, said Robert Kornreich, an attorney for shareholders. Boca Raton, Fla.
BUSINESS
October 17, 2002 | Lianne Hart and Jeff Leeds, Times Staff Writers
HOUSTON -- Arthur Andersen, the accounting firm once revered for its commitment to integrity, was sentenced to the maximum $500,000 fine and five years' probation Wednesday for obstructing a federal inquiry into the collapse of former client Enron Corp. The Chicago-based accounting giant had previously surrendered its licenses to audit financial statements and retains fewer than 1,000 U.S. employees, down from 28,000 before the obstruction charge.
ENTERTAINMENT
November 23, 2008
Just wanted to let you know that John Horn's article ["Studio War," Nov. 16] is probably the best succinct explanation of the controversy over "Watchmen" that I've read anywhere. Great job boiling down a very complicated story into something that's easily understandable. Patrick Casey Warwick, R.I. :: My bet is, (if it's ever released) "Watchmen" flops. I'm just an ordinary guy who knows all about Spider-Man, Superman and Batman and never heard of these Watchmen comics. Let's hope Warner Bros.
BUSINESS
November 13, 2001 | Bloomberg News
Arthur Andersen may face U.S. Securities and Exchange Commission sanction and shareholder lawsuits because it certified Enron Corp. financial reports that the company disavowed last week as inaccurate, legal and accounting experts said. Andersen, the world's fifth-largest accounting firm, served as Enron's outside auditor for more than a decade. Last week, the company reported that it overstated earnings by $586 million over 41/2 years, inflated shareholder equity by $1.
BUSINESS
April 19, 2002 | JERRY HIRSCH, TIMES STAFF WRITER
Efforts by former Federal Reserve Chairman Paul A. Volcker to save accounting firm Arthur Andersen by transforming it into a smaller audit-oriented business have been stymied by dissent within the firm, according to people familiar with the situation. Consulting partners, who would have to find new work under Volcker's plan, have withheld support, as have partners who have lost major clients and have little stake in a revived firm. That has resulted in a series of conflicting signals.
BUSINESS
October 2, 1986 | MICHAEL A. HILTZIK, Times Staff Writer
Federal regulators on Wednesday fined what was once one of the nation's largest commodity firms a record $1.5 million in connection with its role in alleged silver manipulation in 1979 and 1980 and its slipshod supervision of a multimillion-dollar sugar and cocoa futures trading program. The Commodity Futures Trading Commission also charged eight former executives of the firm, ContiCommodity Services, with fraud in connection with the trading program.
BUSINESS
April 11, 1989 | TOM FURLONG, Times Staff Writer
Charles W. Knapp, former head of Financial Corp. of America, will get to keep his controversial $2-million severance payment under a proposed settlement to end litigation against the now-bankrupt savings and loan holding company. Knapp received the severance pay after federal thrift regulators ousted him as FCA chairman and chief executive in 1984 in the midst of a deposit run. He received the payment from FCA's board in return for his agreement to resign, but FCA later sued to recover the money on the grounds that it was grossly excessive.
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