Stauffer Chemical Company

Stauffer Chemical Company
Item# 3261

Was: $9.95

NOW:
$4.95

       




Bond Certificate, issued/canceled
1960's
American Bank Note Company
The item shown is representative of the one you will receive











       

   





   





In one of the largest financial fraud cases in American history (at the time), the U. S. Securities and Exchange Commission (SEC) found that the Stauffer Chemical Company - a company now heavily involved in the American seed industry, agricultural chemicals, and plant biotechnology - used improper accounting methods to inflate its profit by $31.1 million in 1982, a fraudulent 25 percent increase. Stauffer agreed to issue new financial reports for 1982 and 1983, showing sharply reduced profits, and the company signed a consent degree in federal court agreeing not to violate SEC regulations in the future. SEC spokesman Chiles Larson said of the Stauffer finding, "This is one of the more significant financial fraud accounting cases the commission has brought in recent years. These numbers are pretty gross, both in terms of the size and in terms of the offense... When people start cooking the books, it's pretty serious stuff. Those numbers are something that people rely upon."

I guess “cooking the books” was a buzz phrase even 20 some years ago!DE-Delaware Chemicals and Related Consumer Products Scandals and Collapses Under $10 Under $5 Allegorical Featured Laboratory Equipment Featured



All certificates are sold only as collectible pieces, as they are either canceled or obsolete. Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. Unless otherwise indicated, images are representative of the piece(s) you will receive.