Troy Ellerman, the attorney who released grand jury testimony of Barry Bonds in the BALCO steroids case to the media, has had his plea bargain thrown out by a federal judge. Ellerman pleaded guilty to four felonies in February, and […]
Sean Jones, a former defensive lineman for the Green Bay Packers, pleaded not guilty today to federal charges of bank fraud. He and four other men are accused of running a mortgage fraud scheme in which they got mortgages based […]
Today three directors favored by AirTran Holdings Inc. (AAI) were elected to the board of directors of Midwest Air Group Inc. (MEH). Three incumbent directors were voted out, and this is one step closer to AirTran completing its hostile takeover […]
So many schools are offering online college courses these days, it’s hard to know which ones are legit. Sloan Consortium reports that in 2005, 3.2 million college students too online courses. Naturally, students like online courses for the convenience and […]
Here’s why Usana’s explanation of the non-existent CPA licenses for two board members described in SEC filings as “Certified Public Accountants” does not wash: 1. The law in Utah is clear. They cannot refer to themselves as Certified Public Accountants […]
More of a short seller conspiracy? Or can we put that silly idea to rest now that the Associated Press is reporting on the Usana Health Sciences credential scandal? Paul Foy, AP Business Writer reports that “another” executive at Usana […]
So when a public company is exposed for having a CFO who is not a Certified Public Accountant, even though all of their SEC filings say he is, what are they to do? I have a few suggestions: Pretend we […]
A few bloggers were talking this weekend about anti-semitism on the Yahoo message boards, specifically the board for Overstock.com. That discussion board is overrun with derogatory references to Jewish people. Just how pervasive is this problem? Prominent New York attorney […]
Nortel Networks will be fined up to $100 million for accounting fraud issues. The SEC began investigating Nortel in 2005 on the civil level. In 2005, the company admitted to overstating revenue by $3.4 billion. $100 million won’t amount to […]
Carolyn King, one of the 5th U.S. Circuit Court of Appeals judges who will rule on the case involving New Orleans homeowners and insurance companies, has promised a quick ruling. Although such rulings usually take months, Judge King has acknowledged […]
