Misleading casino-company earnings release

What happened

1. 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
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2. 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
   Read full record
3. 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
   Read full record
4. 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
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People and organizations

• Trump Hotels & Casino Resorts investorsaffected party
• Trump Hotels & Casino Resortsaffected party