Whistleblower
Advocates
Award Winning Attorneys
SEC Prosecutions
SEC Settles Charges of Accounting Fraud with Former Executive Vice President of Broadvision, Inc.
SEC v. Nancy R. Gazzigli
- 2005
- $40,000
Defendant allegedly caused her former employer to improperly recognize $3.75 million in revenue during the third quarter of 2001, by falsely describing a sale of bundled software and engineering services to the company’s accountants. Further, the SEC charged that she subsequently provided forged documents to cover up the misrepresentations that she had made. Upon discovery and the company’s announcement that it would restate the relevant financial results, its share price declined nearly 15%.
