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Technology Stocks : LEGATO SYSTEMS LGTO
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To: gmccon who wrote (646)1/21/2000 4:02:00 PM
From: Edwarda  Read Replies (1) of 1138
 
I have never known these guys to lie before and the CFO would have been insane to confirm the estimates if he had had any idea that this was in the works. I think that they were caught by surprise by a change in revenue recognition and left to try to explain the auditor's decision.

The analyst who downgraded VRTS yesterday at Hoak Breedlove yesterday did so on the basis of its business model, which is also moving toward larger contracts with Internet-type businesses. He theorizes that once one auditor forces a more conservative accounting method, others will follow.
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