Speaking at the robertson stephens technology conference on wednesday, lonchar. Veritas software corporation agent is vitale, matthew j. Take, for example, kenneth lonchar of veritas software corp. Kenneth lonchar profiles in az, ca, fl, and ma bizapedia.
Lonchar had resigned as executive vice president and chief financial officer after the company learned that he had misstated his educational. Veritas is latin for truth, a commodity in short supply in the resume of kenneth lonchar, chief financial officer of the storage software firm called veritas. 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 california may be referred. The ceo of a major software firm lied about getting an mba from stanford. Veritas chief financial officer and executive vice president kenneth lonchar resigned from his post thursday, admitting that he had fabricated a stanford business degree. Fabricated resume costs veritas cfo the edwardsville. Sep 19, 2012 veritas softwares chief financial officer kenneth lonchar resigned in 2002 after admitting he lied about having a masters degree in business administration from stanford university. Veritas had seen its previous cfo, kenneth lonchar, resign in october after it was revealed that he had misstated his educational credentials, including incorrectly claiming to have received a masters degree in.
Kenneth lonchar has resigned as executive vice president and chief financial officer of veritas software corp. Learn more about this contract and other key contractual terms and issues by viewing the many sample contracts findlaw has to offer in our corporate counsel center. There was also george oleary from notre dame who misrepresented his athletic and academic background, then resigned as head football coach. Veritas software corporation mountain view company. While kens misstatement about his academic credentials is unfortunate. New york cnnmoney if you studied any latin, youll recall that veritas the name of the software company that just gave kenneth lonchar the boot means truth. Memorandum of points and authorities lonchar s request, plaintiffs oppose the request to the extent that the securities and exchange commission sec. Sec charges five former officers of veritas software corporation with participating in accounting fraud scheme. Criminal record lying about your background or criminal record may land you the interview or job, but it can also cost you the job when your employer discovers the truth. The company, headquartered in silicon valley, said today it fired cfo kenneth lonchar for falsely claiming to have earned. Memorandum of points and authorities lonchars request, plaintiffs oppose the request to the extent that the securities and exchange commission sec documents are offered for the truth of the matter asserted therein. Oct 04, 2002 veritas software said yesterday that kenneth e. The mountain view, californiabased company said it will name a new cfo by the end of the year. Oct 03, 2002 veritas is latin for truth, a commodity in short supply in the resume of kenneth lonchar, chief financial officer of the storage software firm called veritas.
Kenneth lonchar, evp of veritas software claimed to have received an accounting degree from arizona state university and an mba from stanford. Ptc cfo joins veritas supply and demand chain executive. The chief financial officer at veritas software corp. Kenneth lonchar, cfo of veritas software, resigned after it was determined that he didnt have an mba.
Very good, says veritas of first quarter thestreet. Veritas said lonchar will be replaced on an acting basis by chief administrative officer jay jones. Previous to kenneth s current city of fremont, ca, kenneth lonchar lived in mountain view ca. Lonchar falsely claimed to have received an mba from stanford university. Veritas cfo quits amid resume roil silicon valley business. Leslie mark, squire geoff, jones jay, lonchar kenneth, lonchar kenneth. Cfo kenneth lonchar, the trouble started in the fall of 2002. 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. Oct 03, 2002 if you studied any latin, youll recall that veritas the name of the software company that just gave kenneth lonchar the boot means truth. I regret this misstatement of my educational background, lonchar reportedly said in a statement.
Oct 21, 2002 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 he never received. Lonchar said he earned an accounting degree from arizona state university and an mba from. Veritas software corporation plaintiffs opposition to. The former chief financial officer of veritas software corp. Veritas hadnt checked lonchar s background until receiving the outside tip because the company inherited him as an employee as part of a 1995 acquisition of another software maker, openvision. He went on to become the coach at the university of central florida since. Sued in securities fraud class action by law offices bernard m. Lonchar resigned as chief financial officer after admitting he falsely claimed to hold an mba from stanford university. Veritas cfo ousted after false degree claim houston chronicle. Abbott spinoff ceotobe gonzalez lacks claimed university.
Ex veritas software cfo kenneth lonchar kenneth lonchar may not have had a masters in business administration from stanford, but even if he. Sues 5 exexecutives in veritas software fraud case the. Thats when it was discovered that he never actually obtained his mba from stanford university, as his resume said. Bloom said lonchar joined veritas through a merger with. Sec accuses former veritas execs of financial fraud san. 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. Oct 03, 2002 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.
Can you lose your job if you lied on your application. Jul0207 the us securities and exchange commission sec filed civil charges against the former chief executive mark leslie and four other senior managers of veritas software corp. Oct 04, 2002 ex veritas software cfo kenneth lonchar kenneth lonchar may not have had a masters in business administration from stanford, but even if he did, its doubtful that the programs required ethics. Veritas cfo resigns over lie on resume computerworld. Veritas stock, an influential component of the closely followed nasdaq 100, tumbled 19 percent thursday after cfo kenneth lonchar resigned following managements discovery that. With respect to exhibits ac of defendant kenneth e. Kenneth lonchar, chief financial officer of veritas software. 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. He is responsible for the management and compliance of the companys. The company said kenneth lonchar had claimed he had a masters of.
The sec accused leslie, lonchar and sallaberry of artificially inflating revenue and earnings through a roundtrip transaction with america online inc. Exveritas cfo wants more claims cut in sec fraud suit. Veritas named one of 20 coolest cloud storage vendors of 2020 data protection pioneer veritas has become a market leader with a strong focus on cloudbased data protection and data management. Kenneth lonchar is senior vice president and chief financial officer of veritas software. He claimed to hold an mba from stanford when he didnt. Kenneth lonchar previous chairman for veritas software. Gary bloom, chairman, president and ceo, stressed that mr lonchar s departure had no bearing on the accuracy of our results or the. Lonchar left his position as chief financial officer of veritas software after the company learned that he falsely claimed to have an m. Veritas, now a wholly owned subsidiary of symantec corporation, was a software company headquartered in mountain view, california that. Sep 30, 2002 kenneth lonchar has resigned as executive vice president and chief financial officer of veritas software corp. 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. Nor, for that matter, did he learn anything else at the prestigious california school. Lonchar, the former chief financial officer of veritas software corporation, in sec v.
Veritas cfo quits amid resume roil silicon valley business journal. Speaking at the robertson stephens technology conference on wednesday, lonchar said. View kenneth lonchar s profile for company associations, background information, and partnerships. Accordingly, with respect to defendants veritas software corporation, gary l.
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. Oct 04, 2002 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 has served as chief financial officer and senior vice president, finance of veritas since january 1999. When that was uncovered, the companys stock fell 16%. Search our database of over 100 million company and executive profiles. Sometimes kenneth goes by various nickname including kenneth e lonchar. Now lonchar, who resigned after the disclosure of the faked credential, is in more trouble. Kenneth lonchar didnt learn latin at stanford university. Cfo kenneth lonchar gave an upbeat assessment of business for the first quarter. Oct 03, 2002 veritas said any deceit appeared to be isolated to lonchar s educational credentials. This business published its annual reports two times in years. Contact us about the company profile for veritas software global.
A brief course in education verifications hireright. Feb 27, 2002 veritas software get reporcfo kenneth lonchar gave an upbeat assessment of business for the first quarter. 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. This agent address is 1 grove terrace winter park, fl 32789. He is responsible for the management and compliance. Veritas cfo ousted after false degree claim houston. Veritas cfo steps down executive admits he lied about. The companys stock dove when the truth surfaced kenneth lonchar joined veritas software corp. Kenneth lonchar e, 62 fremont, ca background report at. The current governor of new mexico has claimed for 40 years that he was a draft pick for the. That didnt stop kenneth lonchar from lying about having a masters degree in business. Kenneth lonchar s birthday is 02031958 and is 62 years old. Yahoo ceo scott thompson was fired in 2012, and veritas software cfo kenneth lonchar was fired in 2002 both for lying about their education before they were hired.
Exveritas cfo settles sec fraud suit over fudged earnings. Petrone, on behalf of himself and others similarly situated, united food and commercial workers union local 880retail food employees joint pension fund, construction industry and carpenters joint pension trust for southern nevada, hawaii electricians pension fund, and hawaii electricians annuity. Veritas cfo resigns over falsified resume thestreet. The falsification was discovered by the veritas board of directors, the boards audit committee, and independent auditors.
Veritas finance head resigns amid resume discrepancies wsj. Lonchar is responsible for overseeing the overall financial functions of the company. Lonchar fabricated his education, saying he earned an accounting degree from arizona state university and was a. Veritas said any deceit appeared to be isolated to lonchar s educational credentials.