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Diebold CEO resigns
Posted: Tue Dec 13, 2005 7:46 pm
by R00k
Interesting. I wasn't aware there were charges of fraud and insider trading against people in the company, on top of all the other scandals and dirty laundry:
http://rawstory.com/news/2005/Diebold_C ... _1212.html
Posted: Tue Dec 13, 2005 7:50 pm
by Canidae
Well if raw says its true ,it must be.
I think he'll choose a jury.
Posted: Tue Dec 13, 2005 9:59 pm
by So... Who Wants Smasht?
Article by John Byrne...
I remember him!
Posted: Wed Dec 14, 2005 12:41 am
by R00k
http://www.bradblog.com/archives/00002153.htm
EXCLUSIVE: SECURITIES FRAUD LITIGATION FILED AGAINST DIEBOLD, INC!
Eight Current and Former Executives Named as Co-Defendants, Including former CEO O'Dell and New CEO Swidarski
Class Action Suit Alleges Fraud, Insider Trading, Manipulation of Stock Prices, Concealment of Known Flaws in Voting Machines and Company Structural Problems
The BRAD BLOG can now report that a Securities Fraud Class Action suit has been filed against Diebold, Inc. (stock symbol: DBD ) naming eight top executive officers in the...
The BRAD BLOG can now report that a Securities Fraud Class Action suit has been filed against Diebold, Inc. (stock symbol: DBD) naming eight top executive officers in the company as co-defendants. The suit has been filed by plaintiff Janice Konkol, alleging securities fraud against the North Canton, Ohio-based manufacturer of Voting Systems and ATM machines on behalf of investors who owned shares of Diebold stock and lost money due to an alleged fraudulent scheme by the company and its executives to deceive shareholders during the "class period" of October 22, 2003 through September 21, 2005.
The suit was filed today in U.S. Federal District Court in Ohio and alleges the company "artificially inflated" stock prices through misleading public information designed to conceal the true nature of Diebold's financial and legal situation. The defendants are also alleged to have attempted to disguise well-known and ongoing problems with Diebold's Voting Machine equipment and software. Additionally, the suit alleges insider trading by defendants resulting in proceeds of $2.7 million. Remedies are sought under the Securities Exchange Act of 1934.
......
Named as co-defendants in the suit along with former CEO O'Dell and new CEO Swidarski are President of International Operations, Michael J. Hillock; Senior Vice President of Customer Solutions, David Bucci; Interim Chief Financial Officer, Principal Accounting Officer and Controller, Kevin J. Krakora; Vice President and Chief Information Officer, John M. Crowther; Senior Vice President and CFO, Gregory T. Geswein; and President and COO, Eric C. Evans. (Titles applied to the named co-defendants during the class period. Evans, for example resigned from the company on the same day as the Sep. 21, 2005 announcement.)
Posted: Wed Dec 14, 2005 12:45 am
by Foo
If this doesn't show just how much of a sham the media is to everyone... then there's no convincing left to be done, might as well forget a reasoned discussion and get a gun, start shooting...
What a farce.
Posted: Wed Dec 14, 2005 12:55 am
by R00k
Like the Niger forgeries, or the aluminum tubes, or the Downing St. Memos, or the Social Security grab attempt, or the national budget, or wealthy tax cuts, or........
It's just the next in a long line I'm afraid. And probably forgotten by the public in a month. Then forgotten again a month after the trial is over.
Posted: Wed Dec 14, 2005 12:57 am
by seremtan
it's because everyone can be convinced it's just a few "bad apples" rather than the institution itself. kinda like how governments work really
Posted: Wed Dec 14, 2005 12:58 am
by R00k
You're right though.
And meanwhile, all the newspapers are bemoaning their inexplicable fate of low circulation and job cuts, wondering why in the world they aren't as popular as they used to be.
The majority of them are self-righteous assholes. I should know, I work with plenty of them on a daily basis.
Posted: Wed Dec 14, 2005 10:19 pm
by R00k
I bet we see more of this in the next few months:
http://www.bbvforums.org/cgi-bin/forums ... 15595.html
Wed. December 14, 2005: Due to contractual non-performance and security design issues, Leon County (Florida) supervisor of elections Ion Sancho has announced that he will never again use Diebold in an election. He has requested funds to replace the Diebold system from the county. On Tuesday, the most serious “hack” demonstration to date took place in Leon County. The Diebold machines succumbed quickly to alteration of the votes. This comes on the heels of the resignation of Diebold CEO Wally O'Dell, and the announcement that a stockholder's class action suit has been filed against Diebold by Scott & Scott. Further “hack” testing on additional vulnerabilities is tentatively scheduled before Christmas in the state of California.
What's so frustrating is that I know - I know - that if it were proven on national television that all these machines could be easily hacked in a matter of minutes to change a total vote count, without anyone ever knowing about it -- even if that were done live on television and 3/4 of the country somehow heard, people would still be unwilling to admit that massive fraud might have been possible in 2000 and 2004.