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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE) -- Ignore unavailable to you. Want to Upgrade?

To: David K. who wrote (7759)11/11/1997 6:32:00 PM
From: Michael  Read Replies (1) | Respond to of 14577
 
< The latest suit names the public accounting firm as a defendant.
Hopefully their practice liability insurance will lessen the hit we have to take. >

Unfortunately quarterly results aren't audited (at least externally). Unless the restatement goes back into '96, I don't see how this is possible.



To: David K. who wrote (7759)11/11/1997 8:07:00 PM
From: Jan A. Van Hummel  Read Replies (1) | Respond to of 14577
 
David,

Since the suit takes a period starting in 1996, they logically would
include the auditors as a defendant as well. After all, if the erroneous
practice was in place at that time, the auditors should have caught it.

The fact that S3 is using a different auditor now may suggest that they
really don't know when this started, hence bringing in an unbiased party.

Again, in less than a week we will know a lot more.

Jan


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