Manufacturing company obtains declination of all criminal charges by DOJ and monetary settlement with SEC in parallel criminal/civil investigations for alleged fraud in financial statements
Client(s) Manufacturing company
Jones Day represented a NYSE manufacturing company that was investigated by a U.S. Attorney's Office and the Staff of the SEC's Enforcement Division for alleged disclosure violations and financial statement fraud in connection with revenue and expense recognition, capitalization and reserve issues. The client restated four years of financial statements. In preparation of our defense, we interviewed more than fifty current and former employees, reviewed hundreds of thousands of pages of documents and email, and worked with forensic accountants. The resolution involved a civil settlement with the SEC and no criminal charges against the client.