Securities
Nov. 6, 2009
Plaintiffs' Lawyers Cry Foul Over Proposed SEC Settlement
When Verifone Inc. announced an accounting restatement in 2007, the resulting stock sell-off wiped out $1.8 billion in shareholder value. Now, the Securities and Exchange Commission is proposing to settle its investigation for $25,000.
Daily Journal Staff Writer
When Verifone Holdings Inc. announced an accounting restatement in 2007, the resulting sell-off in the stock wiped out $1.8 billion in shareholder value.
Now the Securities and Exchange Commission is proposing to settle its investigation of the matter for $25,000.
The offer has roiled lawyers from Coughlin Stoia Geller Rudman & Robbins, who are representing shareho...
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