updated 8/10/2004 3:01:00 PM ET 2004-08-10T19:01:00

A judge overseeing a lawsuit accusing Halliburton Co. of using deceptive accounting practices has recused himself from the case, a spokeswoman said.

The case, which had been under the guidance of U.S. District Judge David Godbey, will be reassigned to U.S. District Judge Barbara Lynn, said court spokeswoman Sheila Stein.

Godbey said Tuesday that he had no comment.

In May, Halliburton said it agreed to pay $6 million to settle 20 shareholder lawsuits. The lawsuits had challenged the way that the oilfield-services company counted revenue from cost overruns and change orders on long term fixed-price construction projects.

Halliburton began booking some of the unapproved amounts as revenue in 1998 and later disclosed the change in filings with the Securities and Exchange Commission.

The cases had been combined into one class-action lawsuit filed in a Dallas federal court. Halliburton had said that three of the four lead plaintiffs agreed to the settlement.

Last week Halliburton agreed to pay a $7.5 million fine to settle a Securities and Exchange Commission investigation into the company's accounting practices. The company neither admitted nor denied any of the agency's findings in paying the penalty.

© 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com