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Technology Stocks : Nortel Networks (NT)

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To: tom pope who wrote (14004)	8/17/2004 8:57:38 AM
From: Cooters	Read Replies (1) of 14638

It is old news. Morgan Stanley: Nortel criminal probe isn't 'new news' By Michael Baron 8:28am 08/17/04 NEW YORK (CBS.MW) -- Morgan Stanley weighed in on news of the criminal investigation of Nortel Networks' (NT) by the Royal Canadian Mounted Police. The firm said the development, which is essentially the formalization of a previously announced informal probe, isn't "new news" and that it believes the investigation "is likely to take some time and we do not expect it to affect the company's proposed timeline for releasing its revised financial statements." The stock was off about 2 percent to $3.35 in pre-market action on Instinet. Thursday, we get the news.

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