CORPORATE CRIME REPORTER
Former
Raytheon Execs Settle SEC Accounting Probe
21 Corporate Crime Reporter 12, March 15, 2007
Three former financial officers of Raytheon Company settled allegations brought
by the Securities and Exchange Commission (SEC) that they failed to adequately
disclose the deteriorating financial results and business of Raytheon's commercial
aircraft manufacturing subsidiary.
The SEC also charged that each officer was involved in or aware of certain false and misleading disclosures in Raytheon's periodic reports.
Franklyn A. Caine, the former CFO of Raytheon, Edward S. Pliner, Raytheon's former Controller and former lead auditor, and James E. Gray, the former CFO of Raytheon Aircraft Company will pay more than $1.5 million to settle the SEC’s charges.
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