United Rentals To Pay $14M To Quell SEC Claims

Law360, New York (September 9, 2008, 12:00 AM EDT) -- United Rentals Inc. has agreed to pay a $14 million penalty to quell the U.S. Securities and Exchange Commission's allegations that the company took part in sham transactions to meet earnings forecasts and analyst expectations.

The SEC announced Monday that it filed charges against the equipment rental company in the U.S. District Court for the District of Connecticut, alleging financial fraud and various improper accounting practices.

Pursuant to the settlement deal, which has been submitted for court approval, URI will pay the $14 million civil penalty...
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