Diebold Investigated for Manipulating Data (and These aren’t even Election Related)

If you can’t trust the company which brings us our election results, then who can you trust? If someone were to survey on the issue, I’d expect that Diebold would poll lower than ousted HealthSouth CEO Richard Scrushy or even George W. Bush. Now I’m guessing Diebold’s favorability factor (and stock prices) will plummet considerably lower. From The Brad Blog:

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.

Last September, just days after we reported on an anonymous Diebold insider, nicknamed “DIEB-THROAT”, who pointed us to a Dept. of Homeland Security “Cyber Security Alert” about vulnerabilities in Diebold’s election software, the company’s stock-prices plummeted more than 15%.

While the stock price has remained lower than the nearly all-time highs it had been at just prior to the sudden drop, the price per share has been slowing inching back up over the last several months since the resignation of former CEO Walden O’Dell who was apparently pushed out just prior to the filing of the Securities Fraud suit which complained of insider trading, stock price manipulation and other malfeasance by eight current and former top Diebold executives.

At least former Diebold stock owner Kenneth Blackwell won’t be investigating this case.

posted by Stephen Gordon
  • Mark

    I love Ohio, but we may have the dirtiest politicians in the country. Taft and Blackwell really did a number on this otherwise prosperous flyover state.

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