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Technology Stocks : LEGATO SYSTEMS LGTO

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To: Edwarda who wrote (661)	1/23/2000 3:01:00 PM
From: aliveinsf	Read Replies (2) of 1138

Edwarda: Don't be niave. If what you are saying is true, then Wise is still a fool. Revenue recognition for software has been an issue for over 9 months. New rules have been developed and compliance is not voluntary. He should have known and not been surprised. Also, auditors rountinely "review" quarterly results before they are announced and issues are routinely discussed with management. This is either a classic cooking the books and a classic case of the CFO getting caught red handed, or the CFO being an idiot for not understanding current trends in revenue recognition. This is why the company has an audit committee and a CPA firm...this things were discussed at the highest levels of the company well before the problem surfaced...

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