Lawsuit Seeks Billions for Land Leasing
The Interior Department has reportedly spent $100 million to reconcile the trust accounts of American Indians; more than $100 billion deposited in trust funds may be lost.
Icahn Seeks 10 Percent of Time Warner
During the past couple of weeks, the financier has held discussions with investors about expanding his activist group to exert more influence on the media giant.
Q2 Growth Revised Downward
The second-quarter figure was fractionally less than the number economists anticipated a month ago; it had been expected to rise.
Waste Management Ex-CFO to Fight Charges
James Koenig ''believes and stands by the accuracy of the financial statements'' issued by the company during his tenure.
Settlements for Kmart, Rubbermaid Execs
The case is one in a series alleging misconduct by employees of the retailer and its vendors.
Missing Email May Cost Morgan $10M
SEC fine would be one of the largest related to document retention; Morgan Stanley reportedly claims it did not intentionally destroy or overwrite email it was supposed to keep.
MCI to Resolve Tax Claims for $315M
Earlier this year the company settled the first of such claims, brought by Mississippi, when it agreed to pay $100 million and surrender several properties, including the former WorldCom headquarters building.
Eight Execs Charged in KPMG Probe
Federal prosecutors alleged that eight former executives of the audit firm, as well as an outside lawyer, with conspiring to defraud the Internal Revenue Service.
Waste Management Settles for $26.8M
Agrees to pay penalties on behalf of founder and former chairman Dean Buntrock, who the SEC accused of leading a massive accounting fraud, and three other former executives.
FASB Reexamines GAAP Hierarchy
The board's proposed standard, which would be directed at companies and other reporting entities, would replace a current standard directed at auditors.
KPMG to Settle Tax Investigation
The deal, which would require the Big Four firm to pay $456 million, admit wrongdoing, and accept former SEC chairman Richard Breeden as an outside monitor, would enable KPMG to avoid the fate of Arthur Andersen.