Terex: SEC investigates restatements

News Story
- 8 Sep 2005 ( #225 ) - WESTPORT, CT, United States
1 min read
Telehandler manufacturer Terex Corp has announced that the Securities & Exchange Commission (SEC) is investigating the restatement of its reports for 2000 to 2003 and other past transactions.

Terex said it had also received a subpoena from SEC requiring it to produce documents connected to transactions between Terex, its subsidiaries, and United Rentals, in 2000 and 2001.

Terex said it would voluntarily provide the SEC with information.

According to Dow Jones News Service, Terex is a major supplier to United Rentals. In June, Terex chairman and chief executive Ronald Defeo resigned from the United Rentals board to avoid potential conflicts of interest.

Early this year, Terex announced it was restating past financial statements after an internal audit of intercompany transactions found accounting errors (Forkliftaction.com News #192).
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It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

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It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

As clumsy as this early iteration seems now, this technology was the great enabler that allowed Forkliftaction to connect to the industry across the globe.  

To everyone who has connected with Forkliftaction in the past 25 years, thank you for your contribution to our success! We feel deeply touched by your words of encouragement.

What has Forkliftaction meant to you? Drop us a line.

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Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

As clumsy as this early iteration seems now, this technology was the great enabler that allowed Forkliftaction to connect to the industry across the globe.  

To everyone who has connected with Forkliftaction in the past 25 years, thank you for your contribution to our success! We feel deeply touched by your words of encouragement.

What has Forkliftaction meant to you? Drop us a line.