Interesting read:
The directors and managers of consumer electronics chain Dick Smith have been accused of inflating earnings to meet market expectations by deliberately buying too much stock, booking rebates from suppliers as profits and disguising weak retail sales with low-margin commercial sales.
As Dick Smith's administrators prepared to release on Wednesday their report to creditors, letters sent by the lawyers for Dick Smith's receivers and bankers to former directors and managers outlined a litany of alleged "wrongful acts" that contributed to the retailer's demise.
Interesting read: The directors and managers of consumer...
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