Federal Contractor Misconduct Database (FCMD)
SEC v. Halliburton (Accounting Practices)
In response to Halliburton’s failure to disclose a 1998 change to its accounting practice, the Securities and Exchange Commission began enforcement proceedings. As a result of that undisclosed change, Halliburton’s public statements regarding its income in 1998 and 1999 were materially misleading. Halliburton agreed to settle the enforcement actions by consenting to a Commission order to cease and desist from committing or causing future securities law violations. Additionally, Halliburton and its former controller, Robert C. Muchmore, Jr., agreed to pay penalties of $7.5 million and $50,000, respectively.
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- Enforcement Agency
- Contracting Party
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- Date of Settlement