Suit accuses Ottawa software firm of issuing 'materially false, misleading' financial statements
...The complaint was filed Friday in U.S. District Court in New York, and names Michael Cowpland, chief executive, and Chuck Norris, former chief financial officer, as defendants.
ÿA copy of the complaint, obtained by The Financial Post, says that between March 26, 1997, and Jan. 20, 1998, Corel reported its financial results in a way that did not comply with generally accepted accounting principles, lifting its stock to higher levels than it deserved.
ÿ...Cowpland referred questions to Corel's new chief financial officer, Mike O'Reilly, who replaced Norris last December. O'Reilly did not return calls yesterday and Norris said he could not comment, since he had not yet seen the complaint.
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