understate

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At the same time, the taxes paid on those capital gains are subtracted in calculating the savings rate, further understating it.
Plaintiffs claim that Defendants also allowed Livent to violate generally accepted accounting practices, and then, even when these violations became apparent, continued to overstate Livent's financial condition by understating the effect of Livent's accounting manipulations and by failing to disclose the full extent of the manipulations and their impact on the Company.
According to the Complaint, the Company and its controlling insiders issued a series of false and misleading statements to the market regarding, amongst other things, the Company's publicly reported profits of more than $12 million during the Class Period, and accounting improprieties understating costs throughout 1996, 1997, 1998 and 1999.
Plaintiffs claim that Defendants also allowed Livent to violate generally accepted accounting practices, and then, when even these violations became apparent, continued to overstate Livent's financial condition by understating the effect of Livent's accounting manipulations and by failing to disclose the full extent of the manipulations and their impact on the Company.
The complaint charges Providian with violations of federal and state Truth in Lending statutes, alleging that it violated the laws when it failed to include the payments made by the cardholder toward the credit protection plan in the calculation of the finance charge, instead listing the credit protection plan as a membership fee; and failed to include the charge for the credit protection plan in the calculation of the finance charge, thereby understating the A.
The complaint alleges that RAD and certain of its officers or directors violated federal securities laws by overstating the Company's earnings and understating its costs during the period.
Misrepresentations of financial conditions and results (overstating revenues and understating reserves) and business practices, including failing to disclose that FirstPlus was refinancing defaulting borrowers, forging documents, lending without appraisals, and knowingly using incorrect financial models.