- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
2023-10-31T16:13:00Z By Kyle Brasseur
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.
2023-06-06T15:56:00Z By Kyle Brasseur
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.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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