Centennial is a Delaware corporation based in Massachusetts.
Centennial began trading as a public company on the American Stock Exchange in April 1994. It became listed on the NYSE in November 1996 and was delisted on March 3, 1997. Centennial's misrepresentations and misstatements about its financial condition resulted from multiple fraudulent practices instigated by Centennial's former chief executive officer and its former chief financial officer. In addition, in December 1996, Centennial's former chief executive officer and its former chief financial officer directed employees to ship fruit baskets and polo shirts to companies owned by the former chief executive officer's friends. Centennial overstated its inventory values and levels in a variety of ways.