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Shareholders of TRM Corp. file lawsuit
May 27, 2008
Portland Business Journal: Shareholders have filed suit against ATM operator TRM Corp., alleging that its executives represented the company as much healthier financially than it actually was.The class action suit alleges that between March 16, 2006, and May 22, 2007, Portland-based TRM's results were artificially inflated due to management's failure to write down assets as soon as they lost value. The suit also alleges that TRM lacked adequate internal controls and so couldn't evaluate its true financial state, and that management's positive statements about the company's health were "materially false and misleading."
Transaction ProcessingRetail / Off-PremisesRegulation / LegislationDebit / CreditNorth AmericaPublic Companies
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