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A commonsense approach to financial fraud cases.

Publication: Trial
Publication Date: 01-APR-03
Format: Online
Delivery: Immediate Online Access

Article Excerpt
The omnipresence of financial fraud in the United States means that attorneys may face these cases almost daily. Despite the perception that the current financial scandals are difficult to understand and complicated to untangle, they largely emulate past incidents.

In recent years, even companies with no product and negative cash flow maintained exorbitant stock prices. High-flying technology companies and Fortune 100 firms used aggressive, and sometimes fraudulent, accounting practices with the excuse that "everybody is doing it." In the lenient atmosphere of Wall Street, accounting sometimes crossed the line into outright manipulation of financial information, including inflated numbers, misleading projections, and falsified sales of products.

Attorneys can identify and challenge financial fraud by learning from history and...

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