Got to love a good scandal. I jumped in with both feet this morning at $12.
Veritas (VRTS: news, chart, profile) said that its Chief Financial Officer Kenneth Lonchar has resigned after the company learned that Lonchar "misstated" his academic credentials, "including incorrectly claiming to have received an MBA from Stanford University." Veritas named Jay Jones, its senior vice president and chief administrative officer, to the role of acting chief financial officer, and said that it expects to name a new CFO by the end of the year. "While Ken's misstatement about his academic credentials is unfortunate, it has no bearing on the accuracy of our financial results or the quality of our financial procedures and controls," said Gary Bloom, the company's chairman, president and CEO, in a press release. The stock closed Wednesday at $14.50, down 2.4 percent. |
