source: http://www.mbc-thebridge.com/
BREAKING NEWS: DISH Subject of Accounting Probe, Set Back in TiVo Case (SkyREPORT) 03.10.05
(SkyREPORT) Bloomberg reported this morning that EchoStar is the subject of an internal probe concerning the company's accounting. The company wouldn't comment on the report.
The business wire service said an investigation by EchoStar's audit committee was prompted by KPMG, which allegedly uncovered evidence of improper booking of transactions and other issues while auditing the company's 2004 financials. Bloomberg also said the Securities and Exchange Commission has opened an inquiry into CEO Charles Ergen's role in EchoStar's accounting.
With the internal investigation, the audit committee must present findings to Ergen, and KPMG then must decide whether EchoStar is going far enough to address the issue or refuse to sign off on the company's accounts, Bloomberg reported.
Meanwhile, a federal court denied motions by EchoStar to a dismiss patent infringement case filed by TiVo against the satellite TV company.
BREAKING NEWS: DISH Subject of Accounting Probe, Set Back in TiVo Case (SkyREPORT) 03.10.05
(SkyREPORT) Bloomberg reported this morning that EchoStar is the subject of an internal probe concerning the company's accounting. The company wouldn't comment on the report.
The business wire service said an investigation by EchoStar's audit committee was prompted by KPMG, which allegedly uncovered evidence of improper booking of transactions and other issues while auditing the company's 2004 financials. Bloomberg also said the Securities and Exchange Commission has opened an inquiry into CEO Charles Ergen's role in EchoStar's accounting.
With the internal investigation, the audit committee must present findings to Ergen, and KPMG then must decide whether EchoStar is going far enough to address the issue or refuse to sign off on the company's accounts, Bloomberg reported.
Meanwhile, a federal court denied motions by EchoStar to a dismiss patent infringement case filed by TiVo against the satellite TV company.
