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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (17593)	2/9/2001 2:27:50 PM
From: Triffin	Read Replies (1) \| Respond to of 21876

LU .. PR @ 2:22 MURRAY HILL, N.J., Feb 9, 2001 /PRNewswire via COMTEX/ -- Lucent Technologies (NYSE: LU) today issued the following statement regarding the story in today's Wall Street Journal referring to a Securities and Exchange Commission investigation of Lucent's accounting practices. The company said, "Last November, Lucent identified certain revenue recognition issues and voluntarily and immediately brought them to the SEC's and the public's attention. In December, we announced the results of an external audit and the remedial actions that we took. Those actions included revising revenue for the fiscal fourth quarter and taking the appropriate disciplinary action including the termination of an employee. We shared those findings with the SEC and have been freely and fully sharing information with them since then. "We fully expected that after initiating contact with the SEC, they would look into this matter thoroughly and completely. That is what they are doing. The SEC has made no charges of any kind. "This is not new news. We were quite clear in our November and December announcements that we were sharing information with the SEC, and that is what we have done." Jim in Ct ..