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Technology Stocks : Vari-L (VARL)

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To: JakeStraw who wrote (2440)	7/14/2000 9:02:28 AM
From: Labrador	of 2702

Vari-L says no date set for trading resumption DENVER, July 14 (Reuters) - Vari-L Co. Inc. (NasdaqNM:VARL - news) said on Friday that no date has been set for its shares to resume trading following last week's halt. The telecommunications component maker said it is cooperating with Nasdaq to satisfy requirements for a trading resumption. But due to ongoing litigation issues, Vari-L said it was precluded from making further statements. ``Vari-L sincerely regrets the inconvenience that the suspension of trading has caused its shareholders,'' said Dave Sherman, chief executive. ``We understand it is difficult for our shareholders in this environment of uncertainty, and we are working diligently to satisfy Nasdaq's requirements and restore our shares to trading status.'' Nasdaq halted trading in Vari-L shares on July 7 pending more information from the company after its accounting firm resigned. In resigning, Haugen, Springer & Co. said it was not certain it could rely on management's representation and that financial reports for 1997 through 1999 should not be relied on, Vari-L then said. The stock last traded at 12 on Nasdaq on July 6, off a year high of 39-1/4.

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