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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 234.37

+0.2%

Dec 2 3:59 PM EST

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To: H James Morris who wrote (144040)	7/22/2002 4:21:01 PM
From: Oeconomicus	Read Replies (1) of 164684

HJ, how 'bout this one? biz.yahoo.com HPL Technologies Inc. said it has uncovered a massive accounting fraud involving "fictitious transactions" and "falsified documents" that was apparently orchestrated by its founder and former chief executive, David Lepejian. The San Jose , Calif. , software start-up, which went public a year ago, also said much of the money reported as cash on its balance sheet "is not now, and may never have been, in the company's possession." ... At least $11 million of the $13.7 million HPL reported as revenue in the fiscal fourth quarter ended March 31 was based upon "fictitious transactions supported by falsified documents," said Mr. Antoun, the head of HPL's audit committee. Audit committee? What audit committee?

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