Misleading casino-company earnings release

1999-10-25

contradicted

Promised: 1999-10-25The company presented the earnings release as an account of improved operating performance.Open cited record · 1 source
The record: 1999-10-25The release omitted material one-time items while highlighting a favorable comparison.Open cited record · 1 source2002-01-16The SEC found the release materially misleading and entered a cease-and-desist order.Open cited record · 1 source
Who paid: Trump Hotels & Casino Resorts investors
Trump Hotels & Casino Resorts
Audit finding: contradicted
The SEC finding contradicts the accuracy of the cited investor communication, while the administrative settlement included no admission or denial.
Causal strength: documented mechanism

Evidence chronology

promise1999-10-25documented
The company presented the earnings release as an account of improved operating performance.
- U.S. Securities and Exchange Commission: In the Matter of Trump Hotels & Casino Resorts, Inc.2002-01-16 · Findings concerning the 1999 earnings release and cease-and-desist order
Open underlying ledger entry
action1999-10-25documented
The release omitted material one-time items while highlighting a favorable comparison.
- U.S. Securities and Exchange Commission: In the Matter of Trump Hotels & Casino Resorts, Inc.2002-01-16 · Findings concerning the 1999 earnings release and cease-and-desist order
Open underlying ledger entry
outcome2002-01-16documented
The SEC found the release materially misleading and entered a cease-and-desist order.
- U.S. Securities and Exchange Commission: In the Matter of Trump Hotels & Casino Resorts, Inc.2002-01-16 · Findings concerning the 1999 earnings release and cease-and-desist order
Open underlying ledger entry
limitation2002-01-16documented
The company settled without admitting or denying the SEC findings.
- U.S. Securities and Exchange Commission: In the Matter of Trump Hotels & Casino Resorts, Inc.2002-01-16 · Findings concerning the 1999 earnings release and cease-and-desist order
- The Washington Post: SEC Faults Trump on Profit Data2002-01-17 · SEC order, company response, and no-admission context
Open underlying ledger entry

limitation
The company settled without admitting or denying the SEC findings.