Corporate Governance News

Diamond Foods has removed both its CEO and chief financial officer over improper accounting on walnut payments rendering its move for Pringles over, according to market analysts The Kettle chips and Emerald nuts maker has made interim appointments for both posts as premarket trading for Diamond plunged 40%. Diamond removed CEO Michael Mendes and ... (more)

The Public Company Accounting Oversight Board has imposed a $2 million civil penalty against Ernst & Young, the largest civil money penalty to date in the PCAOB's 10-year history, and censured the firm for audit failures, while sanctioning four of E&Y's current and former partners.

U.S. Senate Republican candidate Spencer Zimmerman said Tuesday he wants to adjust taxes -- raising the federal income tax rate for weathly investors and cutting it for coroporations and the middle class.

Locally-listed retailer Second Chance Properties has taken the rare step of offering a cash reward to whistle-blowers in an attempt to improve its corporate governance and stamp out any fraudulent activities in the firm.

Employees of private investment advisers in the mutual fund industry are not protected by the whistleblower provision of the Sarbanes-Oxley Act, the 1st U.S. Circuit Court of Appeals has ruled in a split decision.

The former CEO of Symmetry Medical and its current CFO agree to give back a total of $635,000 in incentive compensation because of a fraudulent accounting scheme at a subsidiary.

The Tokyo Stock Exchange said Friday it will keep the shares of Olympus Corp. listed, while designating the stock as being "on alert" and imposing a small fine on the company for damaging investor confidence through a $1.5 billion accounting scandal.

Institutional Shareholder Services cited the nominees' larger strategic vision for the company in deciding to support Icahn's nominees, Icahn Enterprises LP said on Wednesday.