Veritas CFO Resigns Over Falsified Resume
Updated from 8:24 a.m. EDT
In Latin, veritas means truth. While Kenneth Lonchar may have known that, he didn't learn it at Stanford University.
Lonchar, Veritas Software's (VRTS Quote) chief financial officer and executive vice president, resigned Thursday after the company learned he misstated his educational credentials, including falsely claiming to hold an MBA from Stanford.
Veritas Chairman and CEO Gary Bloom said the misstatement "has no bearing on the accuracy of our financial results or the quality of our financial procedures and controls." The company affirmed its guidance on expected third-quarter results, saying it expects revenue of $350 million to $370 million and earnings of 11 cents to 13 cents a share on operating margin of 21% to 23%. ...
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