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| | Carnegie International Corporation, et al.: Lit. Rel. No. 18229 / July 14, 2003 |
 | | The individual defendants are E. David Gable, Carnegie's chairman, Lowell Farkas, Carnegie's president and chief executive officer, David Pearl, a lawyer and the former corporate secretary of Carnegie, Richard J. Greene, Carnegie's former chief financial officer, Scott Caruthers, a former Carnegie director, and Dashielle Lashra Caruthers, the wife of Scott Caruthers. |
 | | The complaint further alleges that Carnegie's financial reporting was highly susceptible to the financial fraud because Greene, Carnegie's former chief financial officer, failed to implement an adequate system of internal accounting controls. |
 | | Carnegie is also alleged to have materially misrepresented Talidan's expected future performance in the company's 1998 Form 10-KSB, by failing to disclose known adverse events and uncertainties that were materially impacting Talidan's revenues. |
| www.sec.gov /litigation/litreleases/lr18229.htm (813 words) |
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