Financial Services Industry
Industry: Email Alert RSS FeedRaytheon accounting investigated.
Financial News, January, 2003
Raytheon, the US defence and aerospace group, said on Monday its accounting policies are being investigated.The Securities & Exchange Commission of the US is investigating the company. Raytheon investors were horrified at the news and the shares fell 6.2% to $29.47 ([euro]27.93) by lunchtime on Wall Street.
Raytheon described the probe as informal. It comes less than two months after the company signed a cease-and-desist order over an alleged breach of securities rules.
The company said the SEC is examining accounting at Raytheon's aircraft subsidiary over four years from 1997-2001.
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