Alere settles with the SEC for $13Million

Alere, a Waltham based diagnostic firm, agreed to pay $13 million to the Securities and Exchange Commission (SEC), to settle charges that it committed accounting fraud. The charges state that the company, through its subsidiary in South Korea inflated their revenue by...

Alexion Pharmaceutical CEO and CFO resign

As the internal accounting probe of the sales numbers of Alexion Pharmaceuticals, Inc. nears completion, its CEO David Hallal and CFO Vikas Sinha have unexpectedly resigned. Mr. Hallal for personal reasons and Mr. Sinha to pursue other opportunities. Wonder what the...

Grainy accounting at Cargill

Diane Backis, an accounting manager at Cargill caused the company a loss of at least $25 million and stole more than $3.1 million from the company over a period of 10 years. She pleaded guilty to charges of mail fraud and false tax filings. She has agreed to pay...

Weatherford update

Weatherford International announced the sudden exit of it’s CEO Bernard Duroc- Danner. The move though sudden is not unexpected. Recently the company settled with SEC on deceptive accounting charges. The company had overstated its results to meet its earlier announced...