Federal Trade Commission Chair Lina Khan noted that none of the problems raised by the auditor constituted material weaknesses or instances of noncompliance with internal controls. Photo: Valerie Plesch/BloombergAuditor Finds 'Significant Deficiency' in FTC Accounting to Tune of $7M
"Internal control related to the preparation and review of the financial statements and footnotes was not properly designed and implemented to prevent, detect or correct errors and omissions," wrote Allmond & Co., a Lanham, Maryland-based accounting firm.
November 22, 2024 at 01:33 PM
4 minute read
General Counsel and In House Counsel
The Federal Trade Commission emotes a righteous tone in its crusade against corporate monetary misdeeds, whether excoriating an auto dealer for payment-packing or condeming competitors for improperly sharing pricing data.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
'The Show Must Go On': Solo-GC-of-Year Kevin Colby Pulls Off Perpetual Juggling Act
Contract Software Unicorn Ironclad Hires Former Pinterest Lawyer as GC
2 minute read
How Amy Harris Leverages Diversity to Give UMB Financial a Competitive Edge
5 minute read
Health Care Giants Sue FTC, Allege Lina Khan Using Loaded Process to Vilify Pharmacy Benefit Managers
3 minute readTrending Stories
- 1Supreme Court Will Review Constitutionality Of FCC's Universal Service Fund
- 2'It Refreshes Me': King & Spalding Privacy Leader Doubles as Equestrian Champ
- 3Class Action Filed Against Houston Health Savings Account Firm for Allegedly Confiscating Client Funds
- 4These 2 Lawyers Just Became Florida Judges
- 5'Disease-Causing Bacteria': Colgate and Tom’s of Maine Face Toothpaste Class Action
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
