NEW HAVEN (CN) - Terex Corp., a heavy equipment manufacturer, will pay $8 million to settle SEC charges of accounting fraud and aiding and abetting accounting fraud at United Rentals, another Connecticut company. Terex helped United Rentals "pull off a sophisticated accounting scheme," so both publicly traded companies could inflate their financial performance, the SEC said.
The SEC charged United Rentals with fraud in 2008, and also has charged officials of both companies, the agency said in a statement.
Categories / Uncategorized
Subscribe to Closing Arguments
Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.