scandal

Wells Fargo Fined $3B Over Fake-Accounts Scandal
Risk & Compliance

Wells Fargo Fined $3B Over Fake-Accounts Scandal

“This case illustrates a complete failure of leadership at multiple levels within the bank," a prosecutor says.
By Matthew Heller | February 24, 2020
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KPMG to Restructure Audit Business in U.K.
Regulation

KPMG to Restructure Audit Business in U.K.

The Big Four firm says it wants to "restore trust in audit" but a U.K. regulator indicates the changes don't go far enough.
By Matthew Heller | May 17, 2019
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SEC Charges VW With $13B ‘Dieselgate’ Fraud
Risk & Compliance

SEC Charges VW With $13B ‘Dieselgate’ Fraud

The suit says VW failed to disclose to U.S. investors that its "clean diesel" cars were exceeding vehicle emissions limits.
By Matthew Heller | March 15, 2019
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Teladoc CFO Resigns Amid Sex Scandal
People

Teladoc CFO Resigns Amid Sex Scandal

An investor class action alleges the telemedicine company failed to disclose Mark Hirschhorn's "inappropriate relationship" with a subordinate.
By Matthew Heller | December 17, 2018
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Wells Fargo Warns of Possible $1B Settlement
Regulation

Wells Fargo Warns of Possible $1B Settlement

The scandal-plagued bank posts better-than-expected Q1 earnings but a possible deal with regulators could reduce profit by about 20%.
By Matthew Heller | April 13, 2018
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Tax Savings Fuel Wells Fargo Q4 Earnings Beat
Financial Performance

Tax Savings Fuel Wells Fargo Q4 Earnings Beat

The bank is still struggling to put the fake-accounts scandal behind it, taking a $3.25 billion pre-tax expense for anticipated legal costs.
By Matthew Heller | January 15, 2018
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PwC Fined $2M Over Indian Accounting Fraud
Risk & Compliance

PwC Fined $2M Over Indian Accounting Fraud

India's securities regulator sanctions the firm for failing to detect the $1.7 billion fraud at Satyam Computer Services.
By Matthew Heller | January 12, 2018
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Petrobras Settles Investor Class Action for $2.9B
Risk & Compliance

Petrobras Settles Investor Class Action for $2.9B

The settlement resolves investor claims arising from the $2 billion corruption scandal that has rocked Brazil for four years.
By Matthew Heller | January 3, 2018
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Mitsubishi Says Top Exec Knew of Data-Rigging
Risk & Compliance

Mitsubishi Says Top Exec Knew of Data-Rigging

The Japanese firm reports that the former head of its cable-making subsidiary was made aware in February of guidelines for falsifying quality data.
By Matthew Heller | December 28, 2017
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JPMorgan Avoids Fine in Malaysia Fund Scandal
Risk & Compliance

JPMorgan Avoids Fine in Malaysia Fund Scandal

A Swiss regulator finds the bank "seriously breached" anti-money laundering regulations but declines to impose financial sanctions.
By Matthew Heller | December 25, 2017
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Takata Seals $1.6B Sale of Assets to Key Safety
M&A

Takata Seals $1.6B Sale of Assets to Key Safety

The proceeds from the deal will be used to cover legal costs resulting from the exploding airbag scandal that drove Takata into Chapter 11.
By Matthew Heller | November 21, 2017
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Quality-Control Scandal Engulfs Kobe Steel
Supply Chain

Quality-Control Scandal Engulfs Kobe Steel

The steelmaker has admitted data falsification involving aluminum, copper and iron ore products, further tarnishing Japan's manufacturing reputation.
By Matthew Heller | October 11, 2017
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VW Adds $2.95B to ‘Dieselgate’ Scandal Costs
Financial Performance

VW Adds $2.95B to ‘Dieselgate’ Scandal Costs

The automaker's latest writedown brings the total bill from its diesel emissions cheating scandal to more than $30 billion.
By Matthew Heller | September 29, 2017
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Alexion to Cut 20% of Workforce, Move HQ
Strategy

Alexion to Cut 20% of Workforce, Move HQ

The drugmaker is restructuring as it tries to rebuild its drug pipeline amid investigations of its sales practices.
By Matthew Heller | September 12, 2017
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Pilgrim’s Pride Buys Poultry Firm From Parent
Strategy

Pilgrim’s Pride Buys Poultry Firm From Parent

The $1.3 billion acquisition of Moy Park "will position Pilgrim's to become a global player" in the poultry production business.
By Matthew Heller | September 11, 2017
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