Maybe not. The below is amazing, a negative that is a positive. <gg>
<<Juniper Networks Sued By Ex-Controller Over Accounting Methods
San Jose, California, Nov. 17 (Bloomberg) -- Juniper Networks Inc.'s former business operations controller sued the company, claiming the maker of high-capacity data-traffic routers understated its income to benefit executives.
Valerie Burniece said she was fired on Jan. 14 after complaining to Juniper Chief Financial Officer Marcel Gani about his method of recognizing revenue. She claims the method violates Securities and Exchange Commission rules, as well as generally accepted accounting principles.
``This technique allowed Gani, and others who were aware of it, to present a less optimistic financial picture to the outside world,'' Burniece claimed in the suit. ``This permitted them to keep the stock price artificially depressed to their own advantage.''
The suit doesn't say when Juniper executives allegedly misstated the revenue, how they did so, or how they personally benefited from it. Burniece's attorney, Dennis Kennelly, declined comment.
Burniece claims she was fired after less than a year on the job in retaliation for her complaints. She claims the termination deprived her of the rising value of her stock options.
The suit, filed Tuesday in Santa Clara County Superior Court, seeks $30 million in damages for emotional distress, among other things.
A Juniper spokesman declined to comment on the suit.
Shares of Juniper, based in Sunnyvale, California, fell $7.44 to $154.38 on the Nasdaq Stock Market. >>
Greg |
