By Aaron Nicodemus2023-04-03T19:21:00
Three executives at the U.S. subsidiary of an Australian defense contractor were charged with accounting fraud for allegedly participating in a three-year scheme to lower cost estimates and prematurely book revenue.
Craig Perciavalle, former Austal USA president; William Adams, former combat ships director; and Joseph Runkel, current director of financial analysis, were charged with violating the antifraud provisions of the Securities Exchange Act, the Securities and Exchange Commission (SEC) announced Friday. The agency said it will seek disgorgement plus prejudgment interest, civil penalties, and officer-and-director bars in its ongoing litigation.
Austal USA is an Alabama-based subsidiary of Austal Limited and has contracts to build vessels for the U.S. Navy.
2024-08-27T21:40:00Z By Aaron Nicodemus
The U.S.-based subsidiary of Australian defense contractor Austal will pay $48.8 million in fines and restitution to settle allegations that it committed accounting and securities fraud, misled federal auditors, and violated the False Claims Act.
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Flooring manufacturer Mohawk Industries disclosed it does not expect to face enforcement from the Securities and Exchange Commission regarding allegations of violations of securities laws raised in a class-action lawsuit that the company agreed to pay $60 million to settle.
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Electronic payments software company Cantaloupe agreed to pay a $1.5 million penalty to settle allegations of accounting fraud levied by the Securities and Exchange Commission arising from improper revenue recognition practices.
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A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
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The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
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The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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