Defendant Name:
BISYS Group
Defendant Type:
Public Company
SIC Code:
7374
CUSIP:
05547210
Document Reference:
complaint_07-cv-04010
Document Details
Legal Case Name
SEC v. The BISYS Group, Inc.
Document Name
Complaint
Document Date
23-May-2007
Document Format
Civil Proceeding
Case Number
07-cv-04010
Federal District Court
New York, Southern District of New York
Federal District Judge
Kenneth M. Karas
Allegation Type
Issuer Reporting and Disclosure
Document Summary
In its Complaint, the SEC stated that: "This action arises out of widespread improper accounting practices at BISYS, a leading provider of financial products and support services. As a result of these practices BISYS's reported income for fiscal years 2001 through 2003 was overstated by approximately $180 million. The improper accounting practices were primarily based in the company's Insurance Services division, but also occurred in other divisions."