Huron Pays $1M To End SEC Accounting Probe

Law360, Wilmington (July 19, 2012, 9:59 PM EDT) -- Huron Consulting Group agreed Thursday to pay $1 million to settle a U.S. Securities and Exchange Commission investigation over dodgy accounting that forced the company to restate more than three years of financial filings in 2009.

The Chicago-based firm, which offers financial and operational consulting services, failed to accurately record the redistribution of sales proceeds by shareholders of four rival consulting firms that Huron purchased between 2005 and 2007, according to a statement from the SEC.

The selling shareholders redistributed some of the money to employees...
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