Lynn Turner
Lynn Turner
billions collects company customer directly dollars economics financial indeed investors needs reflect reporting statements trouble
For a company such as Merck to reflect as revenues in its financial statements billions of dollars of co-payments a customer makes directly to another company, the pharmacy, which the pharmacy collects and never remits to Merck, just does not reflect the economics of what is occurring, ... If that is what the SEC accepts, then investors are in trouble and our financial reporting indeed needs improving.
doubt number
There's no doubt that the number of restatements will be an all-time record, by a long shot.
friends-or-friendship people sent
I sent it to my friends, and I sent it to my husband. I just sent it to people who I thought were speeders.
admitted advocate against attorney counsel defense engage executives federal indeed investors message prosecutor rare sending shoulder stand thinking wonder
One can only wonder what message the U.S. attorney was thinking of sending to other executives who engage in such behavior. It is indeed rare that a federal prosecutor would stand shoulder to shoulder with the defense counsel of an admitted felon who bilked investors of over $3 billion, and against the advocate for investors, the SEC.
company delayed errors given guys job money people repeated resulted spent surprising taxpayer
These guys had repeated instances of errors in their financials, delayed filings and people who could not get their job done, who had to be reassigned. It is surprising given all the shareholder money that was spent by the company and taxpayer money spent by the SEC on this investigation, nothing has resulted from it.