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On 31 January 2023, Quintessential Capital Management [d], a New York-based hedge fund and short seller, published a detailed report alleging potential accounting errors at Darktrace, making claims about potential irregularities in contracts with resellers and customers, predominantly dating from before Darktrace's public listing in 2021. [15]
While Darktrace’s stock has soared in recent months, the company was the subject of a short-seller campaign in early 2023 that accused Darktrace of committing similar fraud and accounting ...
Shareholders in Darktrace on Thursday voted against the election of non-executive director Patrick Jacob over concerns about his connection to Mike Lynch, the entrepreneur extradited to the United ...
Thoma Bravo closes $5.3 billion Darktrace acquisition weeks after founding investor Mike Lynch’s death. Ryan Hogg. Updated October 1, 2024 at 2:59 AM. Joe Scarnici/Getty Images for Snap, Inc.
In 2005, after a scandal on insurance and mutual funds the year before, AIG was investigated for accounting fraud. The company already lost over $45 billion worth of market capitalization because of the scandal. Investigations also discovered over a $1 billion worth of errors in accounting transactions.
An accounting irregularity is an entry or statement that does not conform to the normal laws, practises and rules of the accounting profession, having the deliberate intent to deceive or defraud. Accounting irregularities can consist of intentionally misstating amounts and other information in financial statements, or omitting information ...
Darktrace disclosed Thursday it was waiting for one foreign regulatory approval as part of the Thoma Bravo acquisition, due Sept. 28, after which it would seek a U.K. court sanction to close the deal.
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