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SEC Charges Diebold With Fraudulent Accounting

DOW JONES NEWSWIRES Diebold Inc. (DBD) has paid $25 million to settle Securities and Exchange Commission charges that the company engaged in a fraudulent accounting scheme to inflate earnings, the agency said in a statement. The settlement relates to an inquiry the agency took place over the last several years, and the company took a charge related to it in the first quarter, Diebold said in a separate statement. The maker of ATMs and electronic security products neither admitted nor denied the charges in agreeing to the payment. "We are pleased that the settlement with the SEC is final," president and chief executive Thomas W. Swidarski said. Separately, the SEC filed an enforcement action against former chief executive Walden O'Dell seeking reimbursements of benefits he received. O'Dell has agreed to reimburse the company $470,016 in cash bonuses, 30,000 shares of Diebold stock and stock options for 85,000 shares under a section of the Sarbanes-Oxley Act depriving executives of certain compensation received when the company misled investors. The agency's case against former chief financial officers Gregory Geswein and Kevin Krakora and director of corporate accounting Sandra Miller is ongoing. Diebold's shares were down 0.8% to $27.98 in recent trading. -By Matt Jarzemsky; Dow Jones Newswires; 212-416-2240, matthew.jarzemsky@dowjones.com

Stock News for Diebold (DBD)
DateTimeHeadline
11/15/201308:12:59Fidelity Management & Research Co. 3Q 13F: Largest Eliminations
11/15/201308:12:48Fidelity Management & Research Co. 3Q 13F: -2-
11/15/201308:12:48Fidelity Management & Research Co. 3Q 13F: Largest Sales
11/15/201308:12:48Fidelity Management & Research Co. 3Q 13F: Largest Purchases
11/14/201307:21:26GAMCO Asset Management Inc. 3Q 13F: Largest Purchases
11/14/201307:21:26GAMCO Asset Management Inc. 3Q 13F: Largest -2-
11/14/201307:21:23GAMCO Asset Management Inc. 3Q 13F: Holdings As -2-
11/14/201307:21:23GAMCO Asset Management Inc. 3Q 13F: Holdings As Of Sep 30
10/22/201312:40:06Diebold to Settle Bribery Charges for $48 Million
08/15/201308:59:08U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
08/06/201309:21:32Diebold 2nd-Quarter Swings to 2nd-Quarter Loss as Revenue Slides
02/13/201209:10:22US STOCK FUTURES: HOT STOCKS TO WATCH
11/11/201013:43:02Diebold Has Dismissed Russia Leadership Amid Bribery Probe -CEO
06/24/201013:55:08IntercontinentalExchange Steps Up Surveillance Of Futures Markets
06/02/201014:38:13CORRECT: SEC Charges Diebold With Fraudulent Accounting
06/02/201014:06:20SEC Charges Diebold With Fraudulent Accounting
04/14/201009:29:22ATM Makers Look For New Revenue As Big Banks Complete Upgrade
11/02/200919:15:13Diebold Names Bradley Richardson Chief Financial Officer

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