SEC Says Kmart Overstated Its Earnings
Kmart Decline Into Bankruptcy. Securities regulators, who have been investigating Kmart Corp.'s decline into bankruptcy, said Thursday in a related case that the company overstated earnings and improperly booked millions of dollars of payments from vendors. The allegations by the Securities and Exchange Commission came in an order … [Read more...] about SEC Says Kmart Overstated Its Earnings
Bristol-Myers To Restate Earnings
Bristol-Myers Inventory Backlog. Bristol-Myers Squibb Co. said Thursday it will restate earnings downward for parts of 2000 and 2001 while revising this year's earnings upward because of its massive inventory backlog imbroglio that spurred two government investigations. Analysts had been expecting the move since last April when … [Read more...] about Bristol-Myers To Restate Earnings
