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Listed Techs IBM settles with SEC
Listed Techs IBM settles with SEC | IBM settles with SEC |
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| by Stephen Withers | |
| Wednesday, 06 June 2007 | |
  
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The matter involved a decision to expense employee stock options, resulting in lowered estimates of the company's earnings per share. Linda Chatman Thomsen, Director of the SEC's Division of Enforcement, said, "Information regarding a company's earnings is one of the most important factors that many investors consider in making an investment decision, and it is essential that the information companies provide be clear and accurate." SEC Associate Director of Enforcement Scott Friestad added "IBM misled investors by failing to disclose information that would have allowed them to accurately determine the impact that the company's decision to expense stock options would have on its financial results. The facts here are particularly troubling because the disclosure decision was driven, in part, by management's perception of how the news would be interpreted by analysts." No monetary penalty of fine was imposed, according to IBM officials.{moscomment} |
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