SEC launches formal probe of IBM accounts

Jan 13, 2006

The U.S. Securities and Exchange Commission will be launching a formal investigation into IBM's earnings results, the computer giant said.

The SEC will be investigating how IBM disclosed first-quarter earnings for last year, in addition to how it expensed stock options. An informal investigation had been launched last June.

IBM said late Thursday that it will continue to cooperate with the authorities as it had done since last summer.

The company also added in a statement that "the SEC has informed IBM that the investigation should not be construed as an indication that any violations of law have occurred."

Copyright 2006 by United Press International

Explore further: SRI microrobots show fast-building factory approach (w/ video)

add to favorites email to friend print save as pdf

Related Stories

LIVE: Facebook goes public

May 18, 2012

(AP) -- It's Facebook's big day. The site, which was born in a dorm room eight years ago and has grown into a worldwide network of almost a billion people, is making the most talked-about stock market debut ...

SEC investigating Hurd's ouster as HP's CEO

Dec 21, 2010

(AP) -- Mark Hurd is facing more fallout from his ouster five months ago as CEO of Hewlett-Packard Co., the world's biggest personal computer and printer maker.

Recommended for you

Sony's PlayStation 4 sales top seven million

2 hours ago

Sony says it has sold seven million PlayStation 4 worldwide since its launch last year and admitted it can't make them fast enough, in a welcome change of fortune for the Japanese consumer electronics giant.

Weibo IPO below expectations, raises $285.6 mn

2 hours ago

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

'Chief Yahoo' David Filo returns to board

3 hours ago

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

Fired Yahoo exec gets $58M for 15 months of work

3 hours ago

Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.

User comments : 0

More news stories

Sony's PlayStation 4 sales top seven million

Sony says it has sold seven million PlayStation 4 worldwide since its launch last year and admitted it can't make them fast enough, in a welcome change of fortune for the Japanese consumer electronics giant.