NEW YORK— A former accountant who certified fake financial records hiding Bernard Madoff's epic Ponzi scheme was sentenced on Thursday to one year of home confinement, becoming the latest defendant to avoid prison by cooperating in the case. David Friehling had agreed to cooperate almost immediately after the financial fraud— one of the largest in U.S....» Read More
Leap Wireless International said Friday it will restate results from 2004 to the second quarter of this year, after making errors in reporting revenue and operating expenses, pushing its shares down more than 31 percent.
Two former officers at a company that supplies body armor to the U.S. Army face charges they inflated the company's stock price and made nearly $200 million in the process.
On Tuesday, the U.S. Supreme Court is hearing an case that some say may alter the landscape of investing. The outcome potentially could strengthen shareholder confidence -- or stifle investment markets.
On Oct. 9, the U.S. Supreme Court will hear a case that some say may open the flood gates to a tidal wave of investor lawsuits. Legal experts joined CNBC to debate both sides of the issue.
The Australian bank isn’t doing anything illegal, but its practices are enough to make Cramer nervous.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Texas oilman Oscar Wyatt pleaded guilty Monday to conspiracy to commit wire fraud, one of five counts against him for his role in the U.N. oil-for-food scandal.
Children's Place Retail Stores Wednesday fired Chief Executive Ezra Dabah and named board member Chuck Crovitz as interim CEO, sending its shares up as much as 9 percent.
A California appeals court on Tuesday declined to reinstate a long-running case against the Walt Disney over royalties it paid for its popular Winnie the Pooh character.
Electronic Data Systems has agreed to pay nearly $500,000 to settle an investigation into accounting irregularities alleged to have occurred from 2001 to 2003.
CNBC has learned that Maurice "Hank" Greenberg has received a subpoena from the SEC and will be giving his first deposition as part of the SEC’s continuing investigation into what role, if any, he played in alleged accounting improprieties at American International Group.
The Securities and Exchange Commission said Wednesday that Saks Inc. has agreed to settle a lawsuit that Saks Fifth Avenue understated sales to some vendors and didn't record markdowns properly, inflating its earnings.
A state judge in Michigan has sided with Wal-Mart Stores and dismissed a lawsuit by former marketing executive Julie Roehm over her firing, saying the case should be filed in Arkansas.
The U.S. Securities and Exchange Commission took a step Wednesday toward considering whether U.S. companies could file their financial data using international accounting standards.
Federal regulators are considering allowing public companies to choose between international and U.S. accounting standards for reporting their financial results, a move that could bring a seismic shift in corporate reckoning.
Malaysia's market regulator said it has begun investigations into air cargo carrier Transmile Group which had reported financial irregularities and sharply revised down its results for the last two years.
Robert Grady, managing director at the Carlyle Group, told CNBC’s “Morning Call” that Sarbanes-Oxley imposes unreasonable costs on small companies that may delay their decision to go public. But David Ruder, professor of law at Northwestern University and former SEC chairman, disagreed. “I think the internal control provisions under Section 404 are absolutely crucial to the management of and honesty of our businesses,” Ruder said.
The report from the Business Roundtable Institute for Corporate Ethics, comprised of U.S. business and academic leaders, and the CFA Centre for Financial Market Integrity asks that companies go beyond government regulations and standardize the way quarterly earnings reports are disseminated.
Shares of Dell opened lower Friday after news that its internal audit found evidence of potential financial misconduct and accounting irregularities. Some have voiced concern that this investigation could focus on founder, chairman and CEO Michael Dell himself. Roger Kay, president and founder of Endpoint Technologies, and Tom Gardner, CEO of The Motley Fool, joined "Morning Call" to debate the impact.
Shares of the world's second-largest personal computer maker were slightly lower on Friday following the disclosure that an internal audit of its accounting found evidence of misconduct, errors and deficiencies in its financial controls.
The world's second-largest personal computer maker said it is working with its auditors and management to determine whether restatements of past financial statements are needed, and to see if the control deficiencies "constitute a material weakness" in its internal control over financial reporting.