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

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a mid-level litigation attorney with experience taking/defending dep...

Apply Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a support attorney with some experience/familiarity with a litigatio...

Apply Now

Patent Prosecution Attorney

USA-MI-Northville

Northville office of our client seeks patent prosecution attorney with 5 years of experience. The ca...

Apply Now

Trademark and Copyright Associate Attorney

USA-CA-San Francisco

San Francisco office of our client seeks trademark and copyright associate attorney with 4-8 years o...

Apply Now

RELEVANT JOBS

Attorney - Insurance Defense

USA-GA-Atlanta

Downtown litigation law firm seeks associate with 3 to 5 years of experience in insurance defense, i...

Apply now

Legal Secretary-Cannabis Law Firm

USA-MI-Lansing

Vora, PLLC. Is accepting applications for a Legal Secretary or Paralegal. We are a cannabis law firm...

Apply now

Paralegal- Cannabis Law Firm

USA-MI-Lansing

Vora, PLLC. Is accepting applications for a Paralegal or Legal Secretary. We are a cannabis law...

Apply now

Legal Administrative Assistant

USA-CA-Sacramento

Under the general direction of the supervising attorney(s) and according to established Firm policie...

Apply now

SEARCH IN ARCHIVE

To Top