NEW YORK, May 9 (Reuters) - Diebold Inc. (DBD.N), one of the world's largest makers of automated teller and electronic voting machines, on Tuesday said staff at the U.S. Securities and Exchange Commission have begun an informal inquiry into how the company recognizes revenue.
North Canton, Ohio-based Diebold said it learned recently about the SEC inquiry and is cooperating. The company disclosed the inquiry in its quarterly report filed with the agency.
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The investigation of Diebold by the SEC, which we had heard previously about through background sources over the past several months, comes on the heels of a class action Securities Fraud litigation suit, originally reported exclusively by The BRAD BLOG just before it was filed last December.
That suit came on the heels of a growing number of reports on the reliability and vulnerability of Diebold's electronic voting machines and concerns about their larger ATM division including a stunning revelation reported last Friday describing a newly discovered problem described as a "major national security threat"...
COMPLETE STORY: http://www.bradblog.com/archives/00002803.htm
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