Halliburton asks judge to dismiss securities fraud lawsuit

Citizen Works' Corporate Reform Weekly, August 4, 2003
8/4/2003 12:23:30 PM Mountain Daylight Time

Halliburton asks judge to dismiss securities fraud lawsuit

Halliburton last week asked a federal judge to dismiss a shareholder
lawsuit that alleges Halliburton and its former CEO, Vice President Dick Cheney, of misleading investors through accounting fraud. According to the suit, the company changed the way it booked revenue from construction projects without alerting investors.

Halliburton's lawyers said the plaintiffs had produced no evidence and that Judicial Watch, a watchdog group that is pushing the lawsuit, was only interested in making "political hay with respect to Vice President CHeney...The federal courts shouldn't be used for these kinds of unsavory political purposes."

Halliburton, however, recently settled a similar bevy of 20 class-action lawsuits for $6 million. These suits, however, did not name Cheney.

For more, see "Judge Looks at Cheney Fraud Suit," by David Koenig of
the Associated Press.

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