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!!






 

RELEVANT JOBS

Personal Injury Insurance Defense Attorney

USA-CA-Los Angeles

Hickey Smith Dodd is seeking a Personal Injury Insurance Defense Attorney in the Southern California...

Apply now

Associate Attorney - Defense Litigation Experience

USA-TX-Dallas

Galloway\'s Dallas office is seeking an Associate Attorneys with 2 - 5 years of experience to handle...

Apply now

Part-time Staff Attorney – Housing and Homelessness Prevention Unit

USA-CA-Santa Ana

  Part-time Staff Attorney – Housing and Homelessness Prevention Unit ...

Apply now

Staff Attorney – Housing and Homelessness Prevention Unit

USA-CA-Santa Ana

Full-time Staff Attorney – Housing and Homelessness Prevention Unit Organization Descriptio...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top