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In the second-largest securities settlement ever paid by an accounting firm, Arthur Andersen will pay $110 million to investors in Sunbeam Corp. stock who said the accountants turned a blind eye to Sunbeam's blatant inflation of its earning figures. According to the suit, the discovery of Sunbeam's book-cooking caused stock prices to plunge from a high of $53 to a low of about $7 per share.
April 27, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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