Actually, it's worse than that. Former CEO Greg Brady will have to pay $8.3 million in SEC fines to settle charges that from approximately 1998 to 2002 he plotted to overstate i2's revenue by $1 billion. Former CFO William M. Beecher has already agreed to pay more than $2.1 million in a similar settlement. i2 itself paid $10 million in fines back in 2004.
CFO.com has the full story and background on Brady's penalty.
Update, Feb. 18: In the comments, George points out that i2's situation today is entirely different than it was in its dark years early this decade. To be fair, I should point out this recent post where I comment on i2's business today.
i2 innovates with hosted vendor-managed inventory services
1 comment:
Hi Frank,
As the press is reporting the bad behavior of i2's EX-ceo and officers, few realize thatcompany today's i2 is THE best company providing Supply Chain Management Solutions to companies using SCM as a competition weapon.
Today, i2 is leaded by a world class CEO Michael McGrath and his very capable and delicate team of experts trying to take i2 to the new glory.
i2's current eps of $1.40 for 2007 is way too conservative just like their q4, 2006's eps of $0.27 tured out to be $0.52, this company is capable of earning $2-3 a share with 12 months.
Please check it out and you'll know why most i2 shareholders believe that i2 is the most undervalue tech stock in the whole market.
There's has been no insiders sell i2 shares for the past 4 years because they all konw how much i2 shares really worth.
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