Northrop Execs Certify Financial Statements
Northrop Grumman Corp. sent to the Securities and Exchange Commission sworn statements certifying the accuracy of the defense contractor’s financial reports.
Chief Executive Kent Kresa and Chief Financial Officer Richard Waugh signed the statements, in accordance with new SEC rules, the Century City-based company said in a filing with the agency.
Companies required to certify their results must do so by the first day that they are required to file a quarterly or annual report, starting Aug. 14. The SEC adopted the rules last month after a wave of accounting scandals that led companies such as Enron Corp. and WorldCom Inc. to file for bankruptcy protection.
Shares of Northrop fell $4.62 to $103.23 on the New York Stock Exchange.
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