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Technology Stocks : GX Investors Thread

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To: qveauriche who started this subject6/24/2002 3:16:05 AM
From: Raymond Duray  Read Replies (1) of 586
 
SHREDDING SCANDAL

nytimes.com

By SIMON ROMERO

<Snip>
Global Crossing has acknowledged in discussions with lawyers for investors that documents were destroyed in its offices in Rochester, Montreal, Toronto and Minneapolis, after the company circulated an electronic message early in February explicitly telling employees not to shred any records, lawyers involved in the discussions said over the weekend. The message was sent several days after federal investigators requested documents from the company, which filed for bankruptcy protection in January.

These disclosures go beyond statements by a current and a former employee of Global Crossing, the troubled telecommunications company, that they had witnessed document shredding at the company's headquarters in Madison, N.J., after investigators began looking into its accounting practices earlier this year. The employees made their statements in sealed court filings that were opened late Friday.
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