Halliburton Settles SEC Charge from Cheney Years

[Bluebear]

WASHINGTON (Reuters) - Halliburton Co. will pay $7.5 million to settle charges that it failed to disclose a 1998 accounting change at a time when Vice President Dick Cheney headed the company, authorities said on Tuesday.

The U.S. Securities and Exchange Commission did not charge Cheney in the case, but brought charges against the Houston-based oil services company, former Chief Financial Officer Gary Morris and former Controller Robert Muchmore.

The case centers on Halliburton's failure to tell investors about a change in how it accounted for revenue from claims against customers for construction project cost overruns, said the SEC, which took testimony from Cheney in its inquiry.

By failing to disclose the change, Halliburton issued misleading profit statements in 1998 and 1999, the SEC said.

http://story.news.yahoo.com/news?tmpl=story&u=/nm/energy_halliburton_dc

[Tight_rope]

1. Only $7.5 million...that's just a "tap" on the hand............n/t

[Bluebear]

2. Pocket change to them.

[displacedtexan]

3. What's good for Ken Lay

is good for Dick Cheney!

What a crock!