Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (943)	12/9/1999 7:21:00 PM
From: Y. Samuel Arai	Respond to of 3770

From the Faber Report: ...While Tyco's CFO would not speak with me, he has spoken to a number of investors today who I have spoken with. He is telling them that the SEC's investigation is not limited to the company but also includes the trading in the stock that surrounded the release of David Tice's report in mid-October. I spoke with Tice, who told me he has been contacted by the SEC, though he added that such contact was made some time ago. Tice would not comment further when asked whether he has been contacted recently. The reason that may be of importance is that the inquiry may be focused on trading in Tyco shares and not on the way it accounts for acquisition. Tyco, which released this news, however, did say the SEC is looking into the way it accounts for acquisitions. The SEC's division of corporate finance recently approved of those practices in allowing the acquisition of ASC Cable. Next week, Tyco will be releasing its 10-K, which will include financial statements from U.S. Surgical and AMP, two large acquisitions closed during the last year. That annual report will have three separate accounting firms signing off on Tyco's practices.