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Vital Signs Settles with Former CFO

Joseph Bourgart claimed the company improperly booked sales and overstated earnings.

> > Vital Signs Inc. announced that it has settled a lawsuit filed by former CFO Joseph Bourgart. Vital Signs did not disclose terms but pointed out that settlement funds will be paid by their insurance carrier and will be immaterial to the financial results for the company.
Management at Vital Signs insisted that the claims were "erroneous" and maintained that any alleged wrongdoing would have happened during the tenure of Bourgart as CFO, who signed off on company financial results without bringing up concerns.
Source: CFO


Published:2004-07-13
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