Thursday, March 15, 2007

Former Peregrine CEO Pleads Guilty

Former Peregrine Systems CEO Stephen Gardner and two other former executives entered guilty pleas to securities fraud charges related to manipulating revenue to make it appear the company was hitting its targets.  Gardner was set to go to trial in April on the charges, along with other Peregrine officers, for their role in the accounting fraud that included holding open the company's books and misusing reserves to pad earnings.  Ten defendants have now entered guilty pleas in the case.  A San Diego Business Journal article (here) discusses the case. (ph)

Fraud, Prosecutions | Permalink

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