10th Circ. Affirms Grant Thornton Win In IMergent Suit
Shoddy accounting does not in itself violate securities laws, a three-judge panel of the U.S. Court of Appeals for the Tenth Circuit said.
iMergent's stock prices tumbled in 2005 after an earnings restatement showed that the e-services provider had overstated its income for several years.
The company sold software licenses on an installment...
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