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Huron Consulting paying $1M to settle SEC case

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Huron Consulting paying $1M to settle SEC case
Submitted by Fox First at Ten on July 19th

WASHINGTON (AP) - Huron Consulting Group Inc. has agreed to pay a $1 million civil fine to settle federal regulators' charges that the firm inflated its income with false accounting.

The Securities and Exchange Commission announced the settlement Thursday with Chicago-based Huron and two former executives. They agreed to pay a total of about $300,000 in fines and restitution. Huron and the executives neither admitted nor denied wrongdoing, but they did agree to refrain from future violations of securities laws.

The accounting violations occurred in 2006 through 2008 and the first quarter of 2009, the SEC said. When Huron later amended its financial statements for those periods, its net income was reduced by about $56 million, the agency said.

Huron said in a statement that the settlement was in its best interest.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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