Home

UGL Limited “Cooked its Books” According to Ex-President
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

 

Sidney-based UGL Ltd’s Ex-President has claimed that the real estate unit “misstated financial results to deceive the board of directors and investors.” Australian UGL is an engineering, construction and maintenance company whose operations include railway manufacture and maintenance along with design, construction, mining, commercial property, as well as defense and petrochemical industries. The company is valued at approximately $900 million USD.

The ex-president claims he was wrongfully fired after he complained about the company’s cooking of its books. According to Bloomberg, ex-president Shibuya reports that he was “retaliated against and terminated in part for complaining about, protesting and opposing defendants’ unlawful ‘cooking of the books.’

  
What
Where


Shibuya was receiving a round base salary of $650,000 along with over a million dollars in incentives. He is seeking damages and compensation from UGL. The company completely denies the allegations of course and commented, “These claims of financial manipulation and discrimination are completely baseless.”

While in the United States, the Sarbanes-Oxley act puts CEOs and CFOs on the line for the responsibility of the validity of the financial statements; it is altogether rather interesting and unique to hear that a CEO is blowing the whistle on his former company. Of course, had ex-president Shibuya not been fired, it is interesting to note what might have been regarding the whistleblowing.

Image: mudmedia.com.au

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Employment Litigation Attorney with 5+ years of experience

USA-CA-Los Angeles

Los Angeles office is seeking a labor and employment litigation attorney with 5+ years of experience...

Apply Now

Capital Markets Staff Attorney with 6+ years of experience

USA-NY-New York City

New York City office is seeking a capital markets staff attorney with 6+ years of experience. Candid...

Apply Now

Attorney with 7-10 years of business litigation experience

USA-CA-Century City

Small to mid-size Century City law firm is seeking an attorney with 7 - 10 years of business litigat...

Apply Now

Trusts and Estates/Tax Attorney with 3+ years of experience

USA-NV-Las Vegas

Las Vegas office of our client seeks trusts and estates/tax attorney with 3+ years of experience. Th...

Apply Now

RELEVANT JOBS

Legal Assistant / Paralegal

USA-PA-York

The York office of Richard R. Reilly, Attorney at Law has an excellent opportunity for a legal secre...

Apply now

Legal Secretary / Assistant

USA-NY-Valhalla

Immediate opening for full time / part time experienced legal secretary in plaintiff\'s personal inj...

Apply now

PERSONAL INJURY PARALEGAL

USA-NY-Brooklyn

Brooklyn plaintiff’s personal injury firm seeks paralegal with 5+ years litigation experience ...

Apply now

Legal Assistant / Paralegal

USA-GA-Atlanta

We are seeking a self-motivated immigration paralegal to join us in a busy but collegial environment...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top