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Suit Charges Halliburton with Accounting Fraud

Illegal accounting activities from 1998 to 2002, a shareholder class-action lawsuit reportedly alleges.

> > The 101-page suit charges that the company and the executives engaged in "serial accounting fraud," including inflating results, failing to disclose a big asbestos verdict in a timely way, and being unable to account for $3.1 billion of profit and cash.
Among the defendants named in the lawsuit are David Lesar, former chief operating officer and its current CEO, and three former finance executives--Douglas Foshee, a former CFO and now CEO of El Paso Corp.; Gary Morris, another former CFO; and Robert Muchmore, a former controller.
Source: CFO


Published:2004-08-10
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