Pages 1-2 reflect the status and my assessment of true Section 304 standing for the cases Morgenson specifically mentioned by name in her piece.  As you can see, three of them do not meet the criteria.  The facts of these cases and the disposition were verified with my sources, including the New Century Case where I spoke with Michael Missal the bankruptcy examiner. One case is still pending. Given the frequency with which Section 304 allegations were dropped in other cases, I would not count any as 304 enforcement in until they are fully settled or adjudicated.                                

Case
Name 		Lit
Release No. 		Date Underlying Charges Status True 304?
SEC v.
William W.
McGuire, M.D. 		20387 12/6/07 Civil
fraud
against
former
CEO and
chairman of board
backdated stock
options 		Settled,
SEC cites
it as first
case 		Yes
SEC v. Stuart W. Fuhlendorf 21210 9/14/09 Civil fraud against former CFO of Isilon Systems,
Inc.
Improperbooking
of
revenue 		Pending No. There was a
restatement but 304 never
cited in
the
complaint.
SEC v. Spongetech Delivery Systems, Inc. 21515 5/5/10 Civil
fraud
against
company, CEO and
CFO
(“pump
and dump scheme” – unregistered sale of publicly-
traded
Spongetech stock);
criminal charges as well 		Pending No. There was a
re-audit
but no
restatement,
a req
condition. 
SEC v.
Brad A.
Morrice et al. 		21327 21609 12/7/09 7/30/10 Civil
fraud
against
New
Century
Financial Corp and against
former
CEO
Morrice,
former
CFO and
former
controller for
fraudulent
accounting 		Settled. No. Bankruptcy.
No restatement, a necessary condition.
SEC v.
Navistar
et al. 		21616 8/5/10 Civil
fraud
against
Navistar,
former
CEO,
former
CFO,
other
accounting
personnel for
financial
fraud,
reporting and internal
controls
violations 		Settled. Admin proceeding. Yes.
SEC v. O’Dell 21543 6/2/10 Independent
Section
304 action against
former
CEO of
Diebold,
Inc.  (Civil fraud
charges
against
Diebold
and two former
CFOs and accounting personnel) 		Settled. Yes. Restatement 9/08.  
SEC v.
Gregory
Geswein
et al. 		21543 6/2/10 Civil
fraud
charges against
former
CFOs of
Diebold
(and
against
Diebold)
for
fraudulent
accounting
practices
to inflate Diebold’s earnings 		Pending. TBD.
SEC v.
Nutracea, et al. 		21819 1/20/11 Civil fraud against
three
former
executives and
two
former accounting personnel for
fraudulent
accounting scheme 		Settled. Yes.
Restatement 10/09.