Latest Corporate governance News

Japan's Softbank posts big losses after WeWork debacle

Nov. 6, 2019 12:51 PM EST

TOKYO (AP) — SoftBank, the Japanese technology conglomerate famous for seismic and visionary bets, has lost $4.7 billion in the WeWork debacle, the company said Wednesday. SoftBank posted losses of 700 billion yen ($6.4 billion) in the July-September quarter, with the damage coming largely from its Vision...

Charges against college officials declined after audit

Nov. 5, 2019 11:44 AM EST

BISMARCK, N.D. (AP) — Prosecutors have declined to pursue criminal charges against North Dakota State College of Science officials accused of withholding records from investigators. Cass County State's Attorney Birch Burdick said in a letter Friday that there was no proof college President John Richman or...

Accountant who ripped off Olympic snowboarder gets prison

Oct. 25, 2019 7:39 PM EDT

PORTLAND, Ore. (AP) — A former Oregon certified public accountant who stole about $4.5 million from his clients, including Olympic snowboarder Daniel Kass, to support his "Playboy" lifestyle and marijuana business has been sentenced to over four years in prison. Victims told a federal judge Thursday how...

Accountant convicted of helping ex-state senator defraud IRS

Oct. 17, 2019 3:33 PM EDT

BOSTON (AP) — An accountant has been convicted by a federal grand jury of conspiring with a former state senator to defraud the IRS. Massachusetts U.S. Attorney Andrew Lelling says 67-year-old John Nardozzi, of Waltham, Massachusetts, was convicted Wednesday of defrauding the IRS of approximately $600,000....

Kansas City man sentenced to prison for tax fraud scheme

Sep. 28, 2019 12:55 PM EDT

KANSAS CITY, Mo. (AP) — A Kansas City man has been sentenced to 15 months in federal prison for tax fraud. Federal prosecutors for Missouri say 40-year-old William Patrick Vogt was sentenced Friday in federal court. Vogt pleaded guilty in May to one count of false statements on a tax return and agreed to...

Fiat Chrysler to pay $40M fine for overstating sales numbers

Sep. 27, 2019 1:55 PM EDT

DETROIT (AP) — Fiat Chrysler is paying $40 million to settle with U.S. securities regulators who say the automaker misled investors by overstating its monthly sales numbers over a five-year period. The Italian-American company inflated sales by paying dealers to report fake numbers from 2012 to 2016, the...

WeWork delays its IPO amid tepid investor interest

Sep. 17, 2019 4:03 PM EDT

NEW YORK (AP) — WeWork's parent company put its stock market debut on the backburner Tuesday, struggling to drum up investor enthusiasm for a fast-growing enterprise that spread trendy communal office spaces across the globe while piling up massive losses. The We Company dropped plans to begin a so-called...