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Lawsuit Against MBTA General Manager Over Financial Filings At Former Firm Dismissed
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A federal judge has dismissed a lawsuit against MBTA general manager Luis Ramirez and against and Global Power Equipment Group, the Texas company Ramirez once led.
Investors filed the class action suit accusing Ramirez and other company executives of filing fraudulent financial statements.
In a separate development, the company says the Securities and Exchange Commission has finished its investigation and regulators "do not intend to recommend an enforcement action."
The suit and SEC investigation stemmed from "accounting errors" at the company that caused it to reissue financial statements dating back there years, which predated and included Ramirez's tenure as CEO.
Guest
Kathleen McNerney, WBUR editor. She tweets @kathmcnerney.
This segment aired on September 26, 2018.
