OM Group, Execs Settle SEC Fraud Charges

Law360, New York (July 19, 2007, 12:00 AM EDT) -- OM Group Inc., its former CFO and two former controllers on Wednesday reached a settlement agreement with the U.S. Securities and Exchange Commission, putting to rest allegations of accounting fraud.

In a civil complaint filed in the U.S. District Court for the District of Columbia, the SEC alleged that OMG’s former chief financial officer, James Materna, and the company’s former controller, John Holtzhauser, improperly adjusted the company’s financial results, increasing OMG’s annual and quarterly net income from 2001 through the first three quarters of 2003....
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.