Kenneth lonchar has resigned as executive vice president and chief financial officer of veritas software corp. Lonchar fabricated his education, saying he earned an accounting degree from arizona state university and was a. Now lonchar, who resigned after the disclosure of the faked credential, is in more trouble. Veritas cfo ousted after false degree claim houston. Previous to kenneth s current city of fremont, ca, kenneth lonchar lived in mountain view ca. Get detailed information about kenneth lonchar, including previous known addresses, phone numbers, jobs, schools, or run a comprehensive background check anonymously. Cfo kenneth lonchar, the trouble started in the fall of 2002.
Veritas software technology corporation in phoenix, az. Lonchar also serves on the board of directors of citrix systems, inc. Veritas software corporation in winter park, fl company. Speaking at the robertson stephens technology conference on wednesday, lonchar said.
Veritas cfo ousted after false degree claim houston chronicle. Veritas software technology corporation is an arizona profit filed on november, 1991. The companys filing status is listed as inactive and its file number is f97000005779. The chief financial officer at veritas software corp. Veritas software corporation is a florida foreign profit corporation filed on november 3, 1997. The registered agent on file for this company is c t corporation system and. Kenneth lonchar e, 62 fremont, ca background report at. Veritas finance head resigns amid resume discrepancies wsj. Its shares rose by as much as 9% last thursday, when chief financial officer kenneth lonchar gave an optimistic outlook for the mountain view, calif. Lonchar key employee agreement this key employee agreement, dated as of the 25th day of april, 1997, is by and between veritas software corporation, a delaware corporation veritas delaware, veritas software corporation, a california corporation veritas california veritas delaware and veritas. That didnt stop kenneth lonchar from lying about having a masters degree in business.
New york storage software maker veritas software corp. Kenneth lonchar didnt learn latin at stanford university. Sues 5 exexecutives in veritas software fraud case. Lonchar falsely claimed to have received an mba from stanford university. The mountain view, californiabased company said it will name a new cfo by the end of the year.
He served as chief financial officer cfo of veritas software corporation veritas from april 1997 until his resignation in october 2002. He is responsible for the management and compliance. Mw veritas software shares fell 6 percent monday after the company said it was subject to nasdaq delisting, would restate 2001 and. On july 2, 2007, the securities and exchange commission filed civil fraud charges in the united. Lonchar was chief financial officer and senior vice president of openvision from 1995 until the merger with veritas in april 1997. Centre pointe business park roseville, mn master lease agreement first security bank na and veritas operating corp. Exveritas cfo settles sec fraud suit over fudged earnings. Nor, for that matter, did he learn anything else at the prestigious california school. Veritas software s chief financial officer kenneth lonchar resigned in 2002 after admitting he lied about having a masters degree in business administration from stanford university. Veritas software, the storage systems business, on thursday announced the resignation of kenneth lonchar, its chief financial officer, after revelations that he lied about receiving an mba from stanford university. Kenneth lonchar, chief financial officer of veritas software. Bloom said lonchar joined veritas through a merger with. Then, veritas will acquire seagate along with its 128 million shares of veritas stockand distribute shares of veritas to seagate shareholders in a taxfree exchange. Kenneth lonchar is senior vice president and chief financial officer of veritas software.
Veritas said lonchar will be replaced on an acting basis by chief administrative officer jay jones. Very good, says veritas of first quarter thestreet. Thats when it was discovered that he never actually obtained his mba from stanford university, as his resume said. The company, headquartered in silicon valley, said today it fired cfo kenneth lonchar for falsely claiming to have earned. Veritas stock, an influential component of the closely followed nasdaq 100, tumbled 19 percent thursday after cfo kenneth lonchar resigned following managements discovery that. Lonchar left his position as chief financial officer of veritas software after the company learned that he falsely claimed to have an m. Kenneth lonchar s birthday is 02031958 and is 62 years old. Sues 5 exexecutives in veritas software fraud case the.
Two weeks ago, veritas software forced its chief financial officer kenneth lonchar to resign after learning he lied about his education, including a stanford university mba that. Oct 18, 2009 1993 directors stock option plan veritas software corp. Veritas cfo quits amid resume roil silicon valley business journal. Sometimes kenneth goes by various nickname including kenneth e lonchar. Veritas software corporation plaintiffs opposition to. Lonchar is responsible for overseeing the overall financial functions of the company. Veritas cfo resigns over lie on resume computerworld. District court for the northern district of california on july 20 entered a settlement between the former chief financial officer of veritas software. The lbo angle supplies a fresh twist on a tax strategy employed in two earlier acquisitions. Veritas chief financial officer and executive vice president kenneth lonchar resigned from his post thursday, admitting that he had fabricated a stanford business degree on his resume. Lonchar, age 54, has been a certified public accountant licensed to practice in the state of idaho. Former veritas exec settles with sec legal newsline. Sec charges five former officers of veritas software corporation with participating in accounting fraud scheme.
Veritas software corporation veritas from april 1997 until his resignation in october 2002. Securities and exchange commission brought against three former veritas software corp. Securities and exchange commission today announced that, on july 20, 2012, the united states district court for the northern district of california entered a settled final judgment against kenneth e. The companys filing status is listed as appointed 111991 and its file number is f00483582. Lonchar has served as chief financial officer and senior vice president, finance of veritas since january 1999.
Plaintiffs file this combined opposition to the separate motions by kenneth lonchar lonchar and the veritas. Veritas software whose name is latin for truth said lonchar resigned as cfo and executive vice president after officials discovered he lied about getting an mba from stanford. Lonchar, the former chief financial officer of veritas software corporation, in sec v. The company said kenneth lonchar had claimed he had a masters of. Sallaberry sallaberry are collectively referred to herein as the veritas defendants.
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