- 2002
Respondents were charged based on improper recognition of $23.1 million in revenue from three transactions in 1998. Telxon’s quarterly revenues were thus inflated by 23%, and a loss of $7.3 million became a falsely stated profit of $4.1 million. The individual respondents were Telxon’s former Vice President of North America sales and controller, and the SEC found that they played relatively minor roles. Primary responsibility rested with the company’s CFO, Kenneth Haver, who was separately charged.
