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Technology Stocks : Nortel Networks (NT)
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To: Daskin who wrote (13811)4/28/2004 12:27:51 PM
From: Ian@SI  Read Replies (1) of 14638
 
Until the restatements are made, it's difficult to hold any firm view whatsoever re NT's stock price.

From what's been released so far, it seems as if total revenues reported are probably close to being accurate - they just weren't recognized in the appropriate quarter. Thus the reshuffling from one period to another.

It seems that senior management manipulated reports in a fashion that affected their overall compensation - bonuses and options. If they missed the target for a particular period, it's starting to sound as if they held back some revenues to help meet the target in a later period.

With Sarbanes-Oxley, the CEO/CFO can go to jail if they sign off on a false report. This is all conjecture on my part based upon very few details given in their press release. But it seems to be the most likely scenario.

NT knows what was happening. They should just bloody well tell us.
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