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SEC Charges Ex-Execs of Bristol-Myers

At the direction of a former CFO and a former division president, the company improperly recognized revenue from $1.5 billion of sales to two wholesalers, according to the commission.

> > Frederick S. Schiff, a former cfo, and Richard J. Lane, a former president of the Bristol Worldwide Medicine Group, were accused by the SEC of orchestrating a fraudulent earnings management scheme that "deceived investors about the true performance, profitability and growth trends of the company and its U.S. medicines business."
Source: CFO


Published:2005-08-23
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