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TSA faces new suit over faulty accounting.
By Virgil Larson, Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Feb. 7--Another stockholder has sued Transaction Systems Architects over faulty accounting that led to a rewriting of several years' financial reports.
The suit by Norbert C. Abel, filed in U.S. District Court in Omaha, names 12 current and former members of the Omaha company's board of directors as defendants, alleging they "engaged in a pattern of disregarding extremely well-established (accounting) principles in order to report financial results that appeared better than they actually were."
Five of the 12 are former executives of the company. One, Greg …
