<<Obviously KPMG knew nothing of this fraud or they would be liable also.>>
I'll believe this when I see KPMG resign. If they do, I'll concede you are right. If they don't, you will be exposed as a front-running lackey of the Milberg Weiss ("We just paid $50 million because we were bad") lawyers. I ask again, are you being paid by them? Why not answer the question? I will state that I am not being paid by SBTK, are you being paid by the class-action lawyers in any way? Did you have a copy of the amended suit before it was filed, so you could front-run the news? Based on your posts here, you apparently did.
If this "fraud" is as clearcut as you claim, I figure that the auditors will resign by the end of the week. If they don't, you lose.
As to GAAP, do you have a mind of your own or can all you do is cut and paste from your lawyer buddies filings? Look at your own posting: "Concept Statements", "Opinions", etc. GAAP is a matter of interpretation, depending on the facts and circumstances, as to revenue recognition. You are assuming that your MW lawyer buddies ("did you say $50 million? we must have been REALLY bad.") are accurate in their filings, while I assume they are biased in favor of the biggest possible legal fee for themselves. |
