Diebold, Inc.

Stock Ticker: DBD

Case Summary: Violations of federal securities laws as a result of the Company’s issuance of a series of materially false statements. The Complaint alleges that these statements were materially false and misleading because they failed to disclose the fraudulent accounting practices employed to achieve the Company's reported results, including: (i) improper use of "bill-and-hold" accounting; (ii) improper recognition of revenue on a lease agreement subject to an undisclosed side buy-back agreement; (iii) manipulating reserves and accruals; (iv) improperly delaying and capitalizing expenses; and (v) improperly writing up the value of used inventory. The Complaint also alleges that Diebold’s auditor, KPMG, failed to withdraw its unqualified audit opinions after learning that Diebold’s prior year financial statements were materially false. Filed in N.D.Ohio.

Lead Plaintiff Motion Date: The deadline to file for lead plaintiff in this action is 08/30/2010.

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This page last updated: 2010-09-03 10:07:20