Four former executives of the former business partner were also indicted as a result of an alleged scheme between the two companies that was designed to inflate advertising revenues just as the dotcom market was beginning to collapse.
The indictment also alleges that some executives of PurchasePro.com benefitted personally from the scheme by collecting millions in bonuses and stock options.
According to The Washington Post, prior to yesterday’s indictment, six former executives of PurchasePro.com had already pleaded guilty to charges resulting from the investigation. Two have been sentenced to prison.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.