Bristol-Myers Squibb committed accounting violations from 1999-2002 including channel stuffing and improper revenue recognition to inflate earnings. This violated accounting principles and securities laws. The SEC investigated and found they improperly recognized $1.5 billion in revenue. As a result, Bristol-Myers Squibb paid $689 million in fines and settlements, restated financials, and executives resigned or were indicted. The scandal damaged investor confidence and stock prices.