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The 10 Most Controversial Companies Of 2018 (So Far)

Businesses sometimes find themselves in the news for the wrong reasons. Here are 10 companies that have made headlines this year – but not in a good way.

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8. Quantum Corp.

On Jan. 11, Quantum disclosed that it had received a subpoena from the U.S. Securities and Exchange Commission regarding the company's accounting practices and internal controls relating to revenue recognition for transactions since April 1, 2016. The company's own internal audit committee began an investigation and on Feb. 8 the company postponed release of its fiscal 2018 third quarter results while that investigation is underway.

Five days later, the company named Patrick Dennis to be the company's new president and CEO, replacing Jon Gacek who left the company in November after disappointing fiscal 2018 second quarter results. Dennis was previously president and CEO of Guidance Software, and before that held a number of strategy, sales, operations, engineering and services posts at EMC.

But in a shocker, Quantum announced on May 30 that Dennis was leaving "to focus on pressing family matters" and that CFO Fuad Ahmad, who held that post for two years, was no longer with the company. Michael Dodson was named CFO and interim CEO. Then, on June 26, the company said that former Cisco and Seagate executive Jamie Lerner had been named CEO.

The company, meanwhile, has yet to release its fiscal 2018 third quarter results – or any other financial results – since late last year. The company's stock has remained on a downward trajectory from more than $8 per share on Aug. 1, 2017 to below $2 per share in August 2018.

 
 
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