LTXX ,,, Delays 3Q After Anonymous Call
Thursday May 12, 6:40 pm ET
LTX Delays Third-Quarter Results After Anonymous Call Warns of Problems With Financials
WESTWOOD, Mass. (AP) -- LTX Corp., a semiconductor products developer, on Thursday said it decided to delay the release of its third-quarter results after an anonymous caller warned of problems with the company's financials.
ADVERTISEMENT
The company said it was made aware during the afternoon of a "whistle-blower allegation relating to its third quarter financial results" from an anonymous caller who "appeared to hang-up before completion of the call."
In light of the allegations made during that conversation, which the company believes are without merit, LTX said it will delay results until it can complete an investigation consistent with Sarbanes-Oxley Act regulations.
LTX was planning to report earnings after the markets closed, and was forced to cancel a conference call with analysts and investors.
Shares fell 45 cents, or 11.4 percent, to $3.50 in electronic trading after the stock closed up 17 cents, or 4.5 percent, to $3.95 on the Nasdaq.
Email Story
Set News Alert
Print Story
Market Data 
Markets 
AI
