The Banksters

0x3…6f4

ERC721

According to the Commission's complaint, in 2001 and 2002 Huntington reported inflated earnings in its financial statements, enabling Huntington to meet or exceed Wall Street analyst earnings per share ("EPS") expectations and internal EPS targets that determined bonuses for senior management. The misstatements, which were qualitatively material, included up front recognition of loan and lease origination fees that were required by accounting rules to be deferred and amortized over the term of the loan or lease; improper capitalization of commission expenses and deferral of pension costs that were required to be recognized in the period incurred; misstated reserves; improper deferral of income; and misclassification of non-operating income as operating income. Without the misstatements, Huntington's EPS would have fallen short of analysts' earnings expectations in 2001 and 2002, 2002 bonuses for Hoaglin and McMennamin would have been eliminated, and Van Fleet's 2002 bonus would have been reduced.

Name

596

Owner

0x69AAd835CB3F62e435fC693443ce49Bfe74b6Dbe

ID#596

Rarity

MID:30%