Securities and Exchange Commission vs. Richard Hawkins

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Lois D


Date added:

May 27, 2014








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The acquisition of HBOC, a medical software company, happened long after Hawkins became the CFO, but right before the management of both companies decided to falsify the facts. It began with a written press release of the preliminary financial results for the quarter and year ended March 31, 1999. According to the release, the quarterly revenue was $6...
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According to the release, the quarterly revenue was $6.4 billion, which was later discovered to be false. Hawkins himself approved the release, knowing that the numbers were materially overstated due to the inclusion of an alleged sale contract with Data General. For the purpose of meeting the expectations of the analysts, the software sales growth was exaggerated by 20%...
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