Cheney, Halliburton Ask Judge to Dismiss Lawsuit
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Vice President Dick Cheney and Halliburton Co. have asked a federal judge to throw out a lawsuit accusing them of defrauding investors by changing accounting methods at the oil field-services company.
Cheney was chairman and chief executive of the Dallas-based company when it changed its accounting to recognize more revenue from construction projects that had cost overruns.
Judicial Watch, a government watchdog group, sued Cheney, the company, its directors and accountant Arthur Andersen in July in federal district court in Dallas.
The group charged that Halliburton’s accounting change resulted in overstating revenue from 1999 to 2001 by $445 million, which pumped up Halliburton’s share price and cost investors millions when the stock declined this year.
The defendants met a Thursday deadline for responding to the lawsuit by filing a motion to dismiss the case.
A copy of the motion was not available Friday.
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