From Reuters
HILLSBORO, Ore, Feb 19 (Reuter) - Radisys Corp shares rose
as much as 25 percent Wednesday after the computer component
maker said a Price Waterhouse accounting audit found nothing
wrong with the company's finances.
Last year, a former Radisys vice president sued the company
alleging that executives were ignoring discrepancies in the
financial records.
Shares of Radisys, based in Hillsboro, Ore, were up 8-1/8
at 41-7/8 in midafternoon trading. Earlier, the shares traded
as high as 42-1/4.
"After reviewing the results of the audit work performed by
Price Waterhouse LLP, the audit committee is fully confident
that the allegations of accounting improprieties made in the
lawsuit are completely groundless," said Scott Gibson, chairman
of Radisys' audit committee.
-- Kourosh Karimkhany, in Palo Alto, + 1 415 846 5401
Well, I think Im gonna come crawling back.
Jeff |
