The SEC on July 1 charged Michael Rand, the former chief accounting officer of Atlanta-based homebuilder Beazer Homes, USA, for conducting a multi-year fraudulent earnings management scheme to meet analysts’ expectations, and for misleading auditors to conceal his activity. The SEC alleges that Rand fraudulently decreased Beazer’s reported net income by recording improper accounting reserves […]
Jaclyn Jaeger
Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal, enforcement, technology, and more. Prior to joining CW, she spent four years as a legal reporter for Lawyer’s Weekly. Jaclyn attended undergraduate school at St. Joseph’s College of Maine and graduate school at Emerson College, earning degrees in journalism.
Posted inBoards & Shareholders
3Com Corporation Elects New Board Member
$1.3 billion 3Com Corporation, a networking hardware and software provider, has elected J. Donald Sherman, the chief financial officer of Akamai Technologies, to serve on its board of directors, effective July 31. He will also serve on the audit and finance committee. Sherman has been Akamai’s CFO since March 2006 and was its senior vice […]
Posted inRegulatory Enforcement
Credit Crisis Class-Action Suits Skyrocket
Corporate America, brace yourself: The unending fallout of the global financial crisis continues to drive a wide range of complicated and highly aggressive securities litigation. Worse yet, filing activity shows no signs of slowing down. According to a recent report by NERA Economic Consulting, litigation related to the credit crisis-related skyrocketed from 69 cases in […]
Posted inRegulatory Enforcement
Cutting Your e-Discovery Costs
One of the biggest beefs companies have with corporate litigation has been the rise in discovery costs, especially as Corporate America has entered the electronic era and creates exponentially more information to search. But many times, it’s the lawyers themselves who make the process more expensive than it needs to be. That was the message […]
Posted inFrom the Archive
Royal Bank of Scotland Chief Risk Officer Steps Down
Royal Bank of Scotland’s chief risk officer, Peter Nathaniel, has announced that he’ll be stepping down—just days after the $37.4 billion bank hired Nathan Bostock as head of restructuring and risk. For the time being, Bostock will be in charge of all risk reporting until the company finds a replacement for Nathaniel, including taking over […]
Posted inFrom the Archive
Venable Adds New Partner to Bankruptcy Practice
Venable LLP announced that bankruptcy and restructuring attorney Jorian Rose has joined the firm’s New York office as a partner. Rose was most recently a managing director at Macquarie Capital, where he advised the global investment firm both as an attorney and a principal. While at Macquarie, Rose played a key role in multiple acquisitions […]
Posted inFrom the Archive
TheStreet.com Appoints New Chief Accounting Officer
TheStreet.com has appointed Richard Broitman as chief accounting officer. Broitman has served as acting chief accounting officer since May 2009. Since joining the company as controller in July 2000, Broitman was appointed vice president of finance in October 2007 before being appointed to his current role. Prior to joining TheStreet.com, Broitman was controller of Individual […]
Posted inBoards & Shareholders
New Chief Risk Officer Takes Helm at BofA
$72.2 billion Bank of America Corp. has named Gregory Curl as chief risk officer, effective June 30. He succeeds Amy Woods Brinkley, who will remain with the company until her retirement later this summer. Curl, a 31-year Bank of America veteran most recently involved in planning roles, will continue to be a member of the […]
Posted inFrom the Archive
Hartford Financial Names New Chief Risk Officer
Hartford Financial Services Group, based in Hartford, Conn., has named Christopher Lewis as chief risk officer of the company’s property/casualty operations, as well as to the newly created role of senior vice president of capital planning. As senior vice president of capital planning, Lewis is responsible for capital planning and analysis across Hartford’s operations, including […]
Posted inFrom the Archive
New Corporate Controller at Interstate Hotels & Resorts
$779 million Interstate Hotels & Resorts, a hotel real estate investor and the nation’s largest independent management company, has hired Michele Reing as senior vice president and corporate controller. In this new role, she will be responsible for corporate and joint venture accounting, financial reporting including SEC and Sarbanes-Oxley compliance, corporate budgeting, forecasting and corporate […]
