Michael Baker, Energy Unit Workers To Settle With SEC

Law360, New York (May 11, 2011, 7:43 PM EDT) -- Engineering and consulting services company Michael Baker Corp. and two ex-employees have agreed to settle a U.S. Securities and Exchange Commission suit over misleading financial statements the company filed with the SEC in 2007, an attorney for the employees said Wednesday.

The SEC says the misstatements, which overstated revenue and income, were caused by fraudulent misconduct on the part of John Scullin, who was the manager of project accounting for the company's Baker Energy unit. Scullin allegedly prepared unsupported manual journal entries to be entered in...
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