A.C.L.N. chief financial officer resigns amid SEC probe
By Pat Maio, Associated Press, 4/1/2002 18:06
LOS ANGELES (Dow Jones/AP) The chief financial officer of A.C.L.N. Ltd., which recently had trading in its shares suspended by regulators because of questions about the accuracy of several company claims, has abruptly resigned, people familiar with the company said Monday.
In addition to CFO Christian Payne, investor-relations vice president Jane Creber has also left the company, the people said.
Neither Payne nor Creber could be reached for comment. The phone number for A.C.L.N.'s office in Santa Monica, Calif., has been disconnected.
A person familiar with the company said the two executives were the only people working in the U.S. for the Belgium-based automobile and truck shipping company. That person said the U.S. offices closed about March 20, and that no one in the country has been working for A.C.L.N. since then. Aldo Labiad, the company's chief executive, could not be reached for comment.
In January, the SEC requested that A.C.L.N. provide information about disclosures that the company made in regulatory filings. The company has declined to discuss the probe, other than Labiad announcing in January that all of A.C.L.N.'s ''SEC filings are accurate in all material respects.''
Last month, three directors resigned from the company and, on March 18, the NYSE suspended trading shares of A.C.L.N. and sought to delist the stock, the first time in 27 years that federal regulators have required the exchange to stop trading in a stock.
The SEC cited ''public interest'' related to concerns about the ''adequacy and accuracy'' of the company's publicly disseminated information.
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