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twitterMicrosoft settles allegations
Monday, June 3, 2002 | 9:49 a.m.
WASHINGTON -- Microsoft Corp. today agreed to refrain from accounting violations to settle federal regulators' allegations that it misrepresented its financial performance, the government announced.
Under a settlement with the Securities and Exchange Commission, the software giant neither admitted to nor denied wrongdoing. No fine was imposed.
The SEC alleged that Microsoft's accounting practices from July 1994 through June 1998 caused its income to be substantially misstated.
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