NEW YORK — The Securities and Exchange Commission yesterday said it has charged two former top executives at drug store chain Duane Reade with accounting fraud, alleging that they executed false-payment schemes that inflated the company’s profits. According to the complaint, filed in federal court here, former Duane Reade Chief Executive Officer Anthony Cuti designed two types of accounting transactions — “real estate concessions” and “credit and rebilling” — that raised the chain’s pre-tax ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’sFREE, easy and quick. What are you waiting for!In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.