Daily Archives: June 14, 2016, 1:51 pm

Joe Nacchio’s insider trading gains aren’t tax deductible, court rules — Denver Bus. Journal

Joseph Nacchio, former Qwest CEO and convicted insider trader, can’t claim surrendered proceeds from illegal Qwest stock trades as a nearly $18 million tax deductible business expense, a federal appeals court ruled. The U.S Court of Appeals for the Federal Circuit reversed a lower court’s ruling and rejected Nacchio’s bid claim the large federal income tax deduction on $44.6 million…

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The Tide Has Turned: The SEC’s Renewed Focus on Non-GAAP Financial Measures – Jones Day

For some time, the Securities and Exchange Commission, or SEC, took a noticeably hands-off approach toward the use of non-GAAP (generally accepted accounting principles) financial measures by public companies listed in the United States. However, recent developments have signaled a renewed focus on registrants’ use of non-GAAP financial measures…. via The Tide Has Turned: The SEC’s Renewed Focus on Non-GAAP…

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