WESPERCORP SETTLES CHARGE BY SECURITIES & EXCHANGE COMMISSION WITHOUT ADMITTING WRONG-DOING

Wespercorp, Santa Ana, California manufacturer of peripheral interface boards and couplers, and its former chairman, chief financial officer and a vice president, have settled a charge by the Securities & Exchange Commission that they misstated financial results in 1983 and 1984 by recognising revenue from contracts too early: the three and the company settled without admitting any wrong-doing but agreed to be bound not to do what they hadn’t admitted doing again.

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