Wednesday, August 12, 2009 11:28:55 AM
The Securities and Exchange Commission is investigating accounting errors at Huron Consulting Group that is forcing the Chicago firm to restate more than three years of earnings.
"The company intends to cooperate with the SEC in its investigation," Huron said Tuesday in an SEC filing.
At the end of July, Huron announced it was restating earnings for 2006, 2007, 2008 and the first quarter of 2009 because of incorrect accounting related to the acquisition of four businesses. Chief Executive Gary Holdren, Chief Financial Officer Gary Burge and Chief Accounting Officer Wayne Lipski resigned from the company.
Huron said some employees of the acquired businesses who were not selling shareholders received payments. Huron had accounted for these payments as goodwill, instead of as non-cash compensation expense. As a result, net profit during the three years and one quarter dropped from $120 million to $63 million.
Huron also confirmed Tuesday that six shareholder class-action lawsuits have been filed against the company in U.S. District Court for the Northern District of Illinois.
Copyright © 2009, Chicago Tribune
Recent HURN News
- Huron Named ‘Best Firm to Work For’ by Consulting Magazine • Business Wire • 09/16/2024 01:25:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/06/2024 02:09:27 PM
- Huron to Present at the Sidoti Small-Cap Virtual Investor Conference on September 18 • Business Wire • 09/05/2024 01:05:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/04/2024 04:19:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/22/2024 02:21:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/21/2024 02:08:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/19/2024 02:47:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 04:35:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/12/2024 09:01:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 03:45:13 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/02/2024 06:54:52 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/30/2024 08:21:39 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/30/2024 08:19:52 PM
- Huron Announces Record Second Quarter 2024 Financial Results and Raises 2024 Earnings Guidance • Business Wire • 07/30/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/16/2024 01:50:05 PM
- Huron Announces Second Quarter 2024 Earnings Release and Webcast • Business Wire • 07/16/2024 01:05:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/12/2024 08:53:54 PM
- Huron’s Mario Desiderio, Jim Gallas, Jennifer Pavelec, and Mike Willhelm Named Top Consultants • Business Wire • 07/01/2024 02:00:00 PM
- Huron’s Laura Zimmerman Earns Top Technology Leader Recognition • Business Wire • 05/20/2024 02:00:00 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 05/17/2024 09:05:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 05:30:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 05:28:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 05:27:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 05:23:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/06/2024 09:29:28 PM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM