What does “lawsuit abuse” cost families?

A full-page ad in the Wall Street Journal, Chicago Tribune, and Washington Post by the U.S. Chamber Institute for Legal Reform (a pro-business group) suggests that lawsuit abuse costs the average American family $3,520. That is the alleged increase in cost of goods ad services due to these lawsuits. This figure was determined by Tillinghast … Read more What does “lawsuit abuse” cost families?

Another class action suit against Usana – this one a little different

Today another class action suit was filed against Usana Health Sciences today, with a class period of July 18, 2006 to March 14, 2007. The twist: ?The lawsuit was filed in the United States District Court for the District of Utah. Based on recent additional allegations of wrongdoing at USANA it is possible that the … Read more Another class action suit against Usana – this one a little different

The Latest Usana Report, Authored By Me

I issued a report to Fraud Discovery Institute about many of the financial issues raised in the Usana Health Sciences matter. The report clarifies the issues and why they’re important from an accounting perspective, specifically regarding Generally Accepted Accounting Principles (GAAP), materiality, and disclosures.

A few of the high points of my report include:

Read moreThe Latest Usana Report, Authored By Me

MIT admissions dean falsified her credentials

Marilee Jones, the dean of admissions for Massachusetts Institute of Technology, has resigned after it was discovered that she falsified her credentials. She claimed on her 1979 application to MIT that she had a bachelor’s and master’s degree from Rensselaer Polytechnic Institute, when she really only attended one year of part-time schooling there.? Jones also … Read more MIT admissions dean falsified her credentials

Changes to Sarbanes-Oxley Rejected By Senate

A proposed amendment to make the internal controls portion of Sarbanes-Oxley optional for smaller corporations was defeated in the U.S. Senate this week. Specifically, the change would have allowed companies with market value less than $700 million to opt out of complying with Section 404 of SarbOx. Sarbanes-Oxely has been criticized as too expensive relative … Read more Changes to Sarbanes-Oxley Rejected By Senate

Overstock.com executives saying “materially misleading” things?

I was cruising cyber-space, seeing what others had to say about today’s earnings call for Overstock.com. I made my feelings clear about the use of the word “improvement.” Overstock’s numbers are terrible, and when compared to last year, no one in their right mind thinks that’s “improvement.” Investigative reporter Gary Weiss suggested a potentially appropriate … Read more Overstock.com executives saying “materially misleading” things?