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It stated net income, of course.
Mr. Kaump said that while the $23 million overstatement seemed relatively small, it had translated into a large difference in profits, and its revision reduced stated net income to $6.4 million, from the originally reported figure of $24.6 million.
Imagine a $500 million Asian fund with a stated net asset value of $25 a share.
You write that the former chairman of Enron, Kenneth L. Lay, "is now facing financial ruin" because his stated net worth is "less than $650,000".
Fund insiders --portfolio managers like the two people at the Putnam Fund group accused of fraud, or Mr. Strong of the Strong Group -- would be in a perfect position to know when a fund's stated net asset value was unreasonably low and to make a large investment.
A 92-year old conservative customer with a stated net worth under $500,000 held a Non-Traditional ETF for 135 days and sustained losses of over $2,000.
Similar(50)
Mr. Feuerstein declined to state net profits or losses.
Summers' 2009 disclosure form stated his net worth to be $17m-$17m-$39m
Last month, the company stated that net income plunged 78% during the first quarter to $117.6 million 88 cents per share).
Summers's 2009 federal disclosure form stated his net worth to be $17 million to $39 million.
Two well-executed drives for Penn State at Ohio State net a TD and a FG.
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