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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who started this subject	7/19/2002 9:07:16 AM
From: Softechie	of 2155

#1. HPL Technologies Investigating Accounting Irregularities SAN JOSE -(Dow Jones)- HPL Technologies Inc. began investigating certain accounting irregularites involving revenue reported and made some immediate personnel changes, including the removal of Chairman and Chief Executive David Lepejian. Based on a preliminary investigation, the company believes that a material amount of revenue was improperly recognized during one or more earlier periods from sales to an international distributor. HPL Technologies said it has informed the the Securities and Exchange Commission about the status of its investigation and plans to cooperate fully with the SEC. Until the investigation is completed, no further reliance should be placed on its previously issued financial statements, the company said in a press release Friday. Shares of the semiconductor software company closed at $14.10 on Thursday, down 70 cents, or 4.7%

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