SiliconBeat

Well, that didn’t take very long.

Within a month of departing VeriFone after completing that company’s restatement of results from fiscal 2007 that lopped off $70 million worth of profits because of “material weaknesses” in the company’s financial reporting process, ex-CFO Barry Zwarenstein re-surfaced Wednesday as the new chief financial officer at Smart Modular Technologies.

We previously wrote about Zwarenstein’s separation agreement which, among other things, guaranteed that the only information VeriFone would give to any prospective employers doing background checks in the future would be Read the rest of this entry »

VeriFone holdings, the electronic payment systems provider that last week lopped off $70 million worth of previous profits when it restated results of several quarters since fiscal 2007, named two new directors to its board, raising the size of the board from eight to ten directors. Both will serve on the board’s audit committee.

For at least one of the newbies, the committee assignment should be a no brainer. Read the rest of this entry »

Tuesday was Barry Zwarenstein’s last day as chief financial officer at VeriFone Holdings, the same day the company officially wiped out $70 million in past profits when it filed amended financial statements with the Securities and Exchange Commission.

In December the San Jose-based electronic payments company shocked investors when it said it had miscalculated its costs for inventory, manufacturing and distribution in its previous three quarterly reports.

In April, VeriFone’s board completed its investigation into the matter, an effort involving some 70 professionals and forensic accountants, Read the rest of this entry »