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Posted: 7/10/2002 9:30:11 PM EDT
[url=story.news.yahoo.com/news?tmpl=story&u=/ap/20020710/ap_wo_en_ge/us_cheney_lawsuit_1&printer=1]Judicial Watch plans to sue Vice President Dick Cheney, Halliburton, alleging accounting fraud[/url] Tue Jul 9,11:55 PM ET By TIM REYNOLDS, Associated Press Writer MIAMI - A watchdog group said it would file a shareholders lawsuit against Vice President Dick Cheney ( news - web sites) and his former employer, Halliburton Co., claiming they engaged in accounting fraud. Cheney was chairman and chief executive of the oil field-services giant from 1995 to 2000. Halliburton announced on May 28 that it received notice from the Securities and Exchange Commission ( news - web sites) that the commission was looking into Halliburton's accounting methods — adopted in 1998 — for reporting cost overruns on construction jobs. The SEC has not filed any charges against Halliburton. Before 1998, the company had been more conservative, reporting such revenue only after settling with customers. The Washington-based group Judicial Watch alleges those accounting practices resulted in the overvaluation of Halliburton's shares, deceiving investors. "We're seeking actual and punitive damages for allegations of securities fraud, for changing accounting practices and not advising the public of these changes," Judicial Watch chairman and general counsel Larry Klayman said Tuesday night in Miami. Messages seeking comment from Cheney and the White House were not immediately returned late Tuesday. "We don't believe that there's any merit to this case," Halliburton spokeswoman Zelma Branch said. The lawsuit, which is expected to be filed Wednesday in federal court in Dallas, also names 10 of Halliburton's board members. Klayman said auditor Arthur Andersen LLP will also be named in the lawsuit. Andersen spokesman Patrick Dorton declined to comment. Judicial Watch has sued for access to records of the Cheney-led energy task force that drafted the Bush administration's energy policy.
Link Posted: 7/10/2002 10:07:22 PM EDT
about time.
Link Posted: 7/10/2002 10:11:21 PM EDT
What you got against metal breifcases? Rick Rude used to utilize them in his bouts.
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