As part of the settlement, former Fifth Third Chief Financial Officer Daniel Poston agreed to pay a $100,000 penalty and be suspended from practicing as an accountant for any publicly traded company, the SEC said on Wednesday. The SEC case arose after the U.S. real estate downturn had caused a surge in nonperforming assets at Fifth Third.» Read More
The ongoing tussle between Muddy Waters and Singapore commodities firm Olam International further heated up after the short-seller published a much-awaited 133-page report on Tuesday detailing “shocking” accounting gaffes at the trading firm, prompting Olam to respond with a 45-page rebuttal on Wednesday.
Short-seller Muddy Waters published a long-awaited report on Olam International with detailed attacks on acquisitions and accounting at the Singapore commodities firm it has said may fail, but Olam dismissed the latest salvo as lacking substance.
Both Autonomy and Hewlett-Packard are prepared to fight, and now a class action shareholder lawsuit has been filed against HPQ. Quentin Hardy, New York Times, and Jake Zamansky, securities lawyer and plantiffs' attorney, provide perspective.
In reality, doing away with insider trading as a crime benefits all market participants, says Carol Roth.
Shares of HP are in the green today after losing 12 percent yesterday, with CNBC's David Faber and Herb Greenberg. Bethany McLean, Vanity Fair, weighs in.
Paul Morland a technology analyst at Peel Hunt, who originally warned about Autonomy at the time of the HP acquisition deal, tells CNBC that a few analysts questioned accounting practices at Autonomy years ago.
Simon Grose-Hodge, Head of Investment Advisory, Singapore, LGT Bank says investors cannot draw comparisons between Olam and Sino-Forest given Olam's foundation as a Singapore-regulated company.
Autonomy, recently acquired by HP, is under fire amid allegations of accounting "improprieties" that HP says led it to take an $8.8 billion charge on the deal. Here's what Autonomy CEO Mike Lynch had to say in past appearances on CNBC.
William George, Harvard Business School professor, and Jeffrey Sonnenfeld, Yale School of Management, discuss how a company can ensure that something like Autonomy never happens again. "Always ask questions about revenue recognition," George added.
CNBC's Kayla Tausche reports the former head of Autonomy denies claims of accounting "improprieties" made by Hewlett-Packard.
The latest apparent target of Muddy Waters – Olam International – saw its stock plummet after the short-seller was quoted in media reports questioning the accounting practices of the Singapore-based commodity trading firm. But the revelation has left many market analysts scratching their heads.
Professionals, like doctors and lawyers and anyone else who might be sued, should work with an adviser to keep creditors from cleaning them out if they lose in court
Only 30 percent of Americans who have access to 401(k) plans actually have advantage of them, with Chad Parks, The Online 401(k) president, and Rebecca Davis, Pension Rights Center.
CNBC's Kayla Tausche reports Bank of America saw its third quarter profit plunge from being hit by charges tied to litigation over its Merrill Lynch acquisition, U.K. taxes, and accounting adjustments.
Discussing whether investors will get what they want this week from earnings, with Bill Spiropoulos, CoreStates Capital Advisors; Jim Kee, South Texas Money Management; Joshua Brown, Fusion Analytics.
With financial advisers moving from one firm to another more frequently than in the past, chances are you'll have an opportunity to review your needs.
The way to foster long-term relationships is to admit that we cannot know what the markets will do, says Mark Hebner, president of Index Fund Advisors.
September may be historically the worst months for stocks, but October is right behind it, with Rob McIver, Jensen Quality Growth Fund, and Tim Freeman, Elevation LLC.
"Businesses make mistakes, they learn from it, and they get better for it," said JPMorgan CEO Jamie Dimon talking about the "London Whale" debacle, reports CNBC's Bertha Coombs.
Consumers would do well to follow these financial survival skills, according to Eleanor Blayney, consumer advocate for the CFP Board.