Defendant Name: VeriFone Holdings, Inc.

Defendant Type: Public Company
SIC Code: 3578
CUSIP: 92342Y10

Initial Case Details

Legal Case Name SEC v. VeriFone Holdings, Inc., and Paul Periolat
First Document Date 01-Sep-2009
Initial Filing Format Civil Proceeding
Case Number 09-cv-04046
Allegation Type
Federal District Court California, Northern District of California
AAER 3044

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-11
• Rule 13a-13
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)

Resolutions

First Resolution Date 01-Sep-2009

Related Documents:

LR-21194 01-Sep-2009 Litigation Release
SEC Charges VeriFone for Artificially Inflating its Income
The SEC stated that: "[It] charged Silicon Valley technology company VeriFone Holdings, Inc. and a former finance department employee for falsifying the company’s accounting records which boosted gross margins and income reported to shareholders."
comp21194 01-Sep-2009 Complaint
Complaint
The SEC stated: "This action involves the reporting of dramatically inflated operating income by Silicon Valley technology company VeriFone Holdings, Inc. ("VeriFone" or "the Company"). Over three consecutive quarters in 2007, company personnel, facing an unexpected decline in gross margins, made unsupportable alterations to Verifone's accounting records, inflating income by millions of dollars."
court_doc19_09-cv-04046 12-Nov-2009 Court Docket Document
Final Judgment Against Defendant VeriFone Holdings, Inc.
On November 12, 2009, the Court issued a final judgment against Defendant VeriFone Holdings, Inc., stating: "Defendant VeriFone Holdings, Inc. ("VeriFone") . . . has submitted Consent of VeriFone Holdings, Inc. to entry of Final Judgment of Permanent Injunction and Other Relief ("Consent"). In the Consent, VeriFone waived service of the Summons and the Complaint, admitted the jurisdiction of this Court over it and over the subject matter of this action, admitted that it was fully advised and informed of the right to a judicial determination of this matter."

Other Defendants in Action:

Paul Periolat