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100 Index Posts Record Losing Streak as Microsoft Slumps
,----[ Quote ]
| The measure, which gets 63 percent of its
| value from computer-related companies such
| as Microsoft Corp. and Apple Inc., has
| declined 9.7 percent after slumping 10
| consecutive days. Microsoft has tumbled 26
| percent since peaking on April 22, while
| Apple has fallen 9.9 percent in two weeks.
`----
http://www.businessweek.com/news/2010-07-03/nasdaq-100-index-posts-record-losing-streak-as-microsoft-slumps.html
SEC Settles Firing Claim For $755,000
http://online.wsj.com/article/SB10001424052748704103904575336813522797370.html
SEC Pays Out Big in Wrongful Termination Case
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| In May, after new information surfaced in a
| divorce case, Pequot founder Arthur Samberg
| agreed, without admitting or denying
| wrongdoing, to pay $28 million to settle
| allegations he engaged in insider trading of
| Microsoft stock.
`----
http://blogs.wsj.com/law/2010/06/30/sec-pays-out-big-in-wrongful-termination-case/
SEC to pay damages to sacked lawyer
http://www.ft.com/cms/s/9893e3d4-83d4-11df-ba07-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F9893e3d4-83d4-11df-ba07-00144feabdc0.html&_i_referer=
SEC paying $755K to settle with fired lawyer
http://www.google.com/hostednews/ap/article/ALeqM5iENOqnJwm414FSqBTRBhJ--dCyQwD9GL8LA01
Pequot whistleblower lands $750K in 'land war' with SEC
http://www.investmentnews.com/article/20100630/FREE/100639991
SEC Agrees to Pay Aguirre $755,000 Over His Firing
http://www.businessweek.com/news/2010-06-29/sec-agrees-to-pay-aguirre-755-000-over-his-firing.html
SEC Pays $755,000 to Settle With Fired Staffer
,----[ Quote ]
| Last month Pequot, which abruptly went out
| of business in 2009, agreed to pay $28
| million to settle regulators claims that it
| illegally used inside information to trade
| Microsoft Corp shares.
`----
http://abcnews.go.com/Business/wireStory?id=11047336
Pequot Whistleblower Gets $755K Settlement From SEC
http://www.hedgefund.net/publicnews/default.aspx?story=11481
SEC Agrees to Pay Aguirre $755,000 Over His Firing
,----[ Quote ]
| The U.S. Securities and Exchange Commission
| will pay $755,000 to a former enforcement
| attorney who said the agency unjustly fired
| him after he tried to investigate insider-
| trading allegations involving former Morgan
| Stanley Chief Executive Officer John Mack.
`----
http://www.businessweek.com/news/2010-06-29/sec-agrees-to-pay-aguirre-755-000-over-his-firing.html
Related:
Microsoft's Fast Search Charged With Fraud in Norway
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| Norwegian police on Thursday charged Fast Search & Transfer with accounting
| fraud, an enterprise search company bought by Microsoft in January for US$1.2
| billion.
`----
http://www.pcworld.com/article/152346/.html?tk=rss_news
Microsoft's Fast charged with 'accounting fraud'
,----[ Quote ]
| Norwegian economic crime police have raided the headquarters of
| Microsoft-owned Fast Search and Transfer and charged the firm with accounting
| fraud.
`----
http://www.theregister.co.uk/2008/10/16/microsoft_fast_oslo_police_raid/
Ex-Microsoft boss sentenced
http://seattlepi.nwsource.com/business/371393_msftcourt19.html
Former Microsoft Manager Gets 2 Years In Jail
http://news.portalit.net/fullnews_former-microsoft-manager-gets-2-years-in-jail_1427.html
Related:
Microsoft's Accounting Under Scrutiny
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| The company has still not made enough information public to provide analysts
| with detailed information on the profitability of its MSN Internet business,
| Mr. Galvin said, adding, ''There's still room for them to obfuscate.''
`----
http://query.nytimes.com/gst/fullpage.html?res=9A03E1DC173DF932A35754C0A96F958260
Microsoft - Undeserving of Libertarian Praise
,----[ Quote ]
| One strategy that Microsoft has employed in the past is paying for the
| silence of people and companies. Charles Pancerzewski, formerly Microsoft's
| chief auditor, became aware of Microsoft's practice of carrying earnings from
| one accounting period into another, known as "managing earnings". This
| practice smoothes reported revenue streams, increases share value, and
| misleads employees and shareholders. In addition to being unethical, it's
| also illegal under U.S. Securities Law and violates Generally Accepted
| Accounting Practices (Fink). Mr. Pancerzewski claims he was forced to retire,
| for raising the issue of deferred earnings with Microsoft executives, thereby
| making plausible deniability more difficult for said executives. He has since
| sued Microsoft, who responded by settling out of court, but also sealing the
| records to prevent public disclosure (Fink).
`----
http://www.kuro5hin.org/story/2002/8/20/11034/3908
Microsoft Agrees To Refrain From Accounting Violations in SEC Settlement
,----[ Quote ]
| Microsoft has agreed to refrain from accounting violations to settle federal
| regulators' allegations that it misrepresented its financial performance, the
| government announced Monday.
|
| Under a settlement with the Securities and Exchange Commission, the software
| giant neither admitted to nor denied wrongdoing. No fine was imposed.
|
| The SEC alleged that Microsoft's accounting practices from July 1994 through
| June 1998 caused its income to be substantially misstated.
`----
http://www.crn.com/it-channel/18819490
"Microsoft Tax," MSN Enters the Black Hole, New Names for NT
,----[ Quote ]
| The lawsuit, filed last year by Mukilteo City Councilman Charles
| Pancerzewski, alleges that he was forced to resign as Microsoft's general
| auditor in January 1996 after working for the company's internal auditing
| department for more than four years. The suit claims that a "significantly
| younger man" with little auditing experience was picked to replace
| Pancerzewski, who was finally forced out because he discovered Microsoft
| might have been violating government regulations. Once Pancerzewski left the
| company he was replaced by the younger man, who his attorneys believe
| was "less prone to raise issues of possible legal improprieties which could
| threaten or embarrass Microsoft or its management.
`----
http://www.msboycott.com/news/98_06_22.shtml
SEC Investigating Microsoft Practices -- Earnings Manipulated, Former Employee
Contends
,----[ Quote]
| "The CFO to whom Charlie was reporting his concerns about illegality was the
| biggest advocate for the very illegality that was going on," Vial argued in
| court a year ago.
`----
http://community.seattletimes.nwsource.com/archive/?date=19990701&slug=2969514
Microfraud?
,----[ Quote ]
| THE ALLEGATIONS WERE shocking: For years, Microsoft has systematically
| distorted its profit figures in an effort to consistently beat Wall Street
| expectations and keep its stock price steadily rising. The false reports
| would violate SEC regulations, and amount to outright fraud.
|
| More shocking was the source of the allegations: Microsoft's chief of
| internal audits, Charlie Pancerzewski, who reported directly to the company's
| chief financial officer.
|
| Most shocking of all was what happened to Pancerzewski when he reported the
| suspicious bookkeeping to his supervisors, Microsoft CFO Mike Brown and chief
| operating officer Bob Herbold, in the spring of 1995. Soon afterward,
| Pancerzewskiâwho for nearly five years had received stellar performance
| evaluationsâreceived his first-ever unsatisfactory one, and was eventually
| forced to resign.
|
| Two months ago, Microsoft quietly settled a lawsuit containing these
| allegations, filed in 1997 by Pancerzewski under the Whistleblowers
| Protection Act. The auditor claimed he was wrongfully terminated after
| telling his supervisors that Microsoft might be breaking securities and tax
| laws. The lawsuit made its tortuous way through several rounds of pretrial
| motions until last fall, when US District Judge Carolyn Dimmick denied
| Microsoft's final plea for summary judgment, finding credible evidence that
| Microsoft may have violated SEC rules, as Pancerzewski alleged. Shortly
| thereafter, Microsoft and Pancerzewski settled out of court. Terms of the
| agreement were sealed, but one source who claims familiarity with the case
| says that Microsoft paid Pancerzewski $4 million.
`----
http://web.archive.org/web/20070308032343rn_2/www.seattleweekly.com/1999-01-06/news/microfraud.php
Ecuador Tax Agency Closes Microsoft Branch Offices For 7 Days
,----[ Quote ]
| "We have twice requested balances, payment reports and complete tax
| information, but the company hasn't given it to us, so in accordance with our
| laws we have proceeded with the closure," the SRI official in charge of the
| proceeding said.
`----
http://money.cnn.com/news/newsfeeds/articles/djf500/200710041610DOWJONESDJONLINE000810_FORTUNE5.htm
Microsoft Office raid in Hungary
,----[ Quote ]
| "Such behavior could lead to the exclusion of competitive products from
| the market and violate European Union rules, according to the authority
| known as the GVH."
`----
http://www.forbes.com/feeds/ap/2007/07/26/ap3957835.html
Microsoft exec dumped stock prior to Red Ring announcement
,----[ Quote ]
| To make matters more murky, the sales were not registered with the Securities
| and Exchange Commission within the mandatory two days of the transaction, a
| result of an alleged "administrative error." Microsoft has since remedied the
| issue by following the "procedures required of late-filers."
`----
http://arstechnica.com/journals/thumbs.ars/2007/08/14/microsoft-exec-dumped-stocks-prior-to-red-ring-addresment
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