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Monday, June 02, 2003

Halliburton agrees to settle accounting suits

Halliburton Co. said Friday it has agreed to pay $6 million to settle 20 shareholder lawsuits that accused it of using deceptive accounting practices while Vice President Dick Cheney led the company.
The lawsuits challenged the way that the oilfield-services company counted revenue from cost overruns and change orders on long-term fixed-price construction projects.
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