SEC Investigation of Diebold Under Way

BradBlog

U.S. Securities and Exchange Commission Announces 'Informal Inquiry' into Accounting Practices of ATM, E-Voting Giant! Inquiry Comes on Heels of Recent Securities Fraud Class Action Litigation, Sharp Drop in Stock Value, Growing List of Security Vulnerabilities Discovered in Company's Electronic Voting Machines...

Just out from Reuters...

NEW YORK, May 9 (Reuters) - Diebold Inc. (DBD.N), one of the world's largest makers of automated teller and electronic voting machines, on Tuesday said staff at the U.S. Securities and Exchange Commission have begun an informal inquiry into how the company recognizes revenue.

North Canton, Ohio-based Diebold said it learned recently about the SEC inquiry and is cooperating. The company disclosed the inquiry in its quarterly report filed with the agency.

The investigation of Diebold by the SEC, which we had heard previously about through background sources over the past several months, comes on the heels of a class action Securities Fraud litigation suit, originally reported exclusively by The BRAD BLOG just before it was filed last December.

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