Endocare Inc.

Endocare Inc. was accused by the Securities and Exchange Commission (SEC) of accounting fraud and recordkeeping practices during 2001 and 2002. A lawsuit claimed that the company fabricated sales and understated or deferred expenses to inflate earnings and show a history of consistent revenue growth, and at the same time, raising fresh capital from investors and buying another company with its stock. Endocare, an Irvine-based maker of medical devices, agreed to pay $750,000 to the SEC and admitted no wrongdoing. (Jul-20-06) [LA TIMES]

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