SEC files amended complaint against Stanford

By Kleinheider Posted on February 27, 2009 at 7:00 pm

From the Commercial Appeal:

Today, the Securities and Exchange Commission released an amended complaint against Stanford and its top executives, R. Allen Stanford, James M. Davis and Laura Pendergest-Holt.

The complaint alleges that “for at least a decade,” Davis and Allen Stanford, through the companies they control under the Stanford umbrella, “executed a massive Ponzi scheme.”

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Tags: financial institutions, financial regulation, governmental investigations, Ponzi schemes, SEC, Securities and Exchange Commission, Stanford Financial Group Inc., Stanford International Bank Ltd.  

Browsing Clarcor’s 10-K

By Geert De Lombaerde Posted on January 25, 2009 at 9:46 pm

Tidbits from Clarcor’s annual report filed with the SEC Friday afternoon:

- The company paid about $6 million in cash for Keddeg, a deal it announced late last month.
- R&D spending has jumped more than 40 percent since 2006. Search for ‘product development.’
- The company’s shares (Ticker: CLC) are 20 percent below the average price Clarcor’s buyback plan paid last fiscal year - but destroyed their benchmarks by falling only slightly last year.

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Tags: Clarcor Inc., manufacturing, SEC  

Extensibly Speaking

By Kleinheider Posted on December 17, 2008 at 2:03 pm

The SEC will require large public companies to file their financial reports using technology making it easier for investors to read and analyze their data:

The SEC voted 4-1 to require 500 of the largest public companies to begin filing financial reports using the technology known as XBRL, or extensible business reporting language, by mid-2009.

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Tags: financial reports, reporting, SEC