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Resource ID: #17423
Subject: Financial Investigations
Source: The Street.Com (New York)
Date: 2023-09-25



The investigates "accounting and other irregularities and misstatements at Lernout & Hauspie, a Belgian maker of speech-recogniton software that counted Microsoft and Intel among its largest investors." The stories detail the period of soaring stock price of the Belgian company, although at the same the firm has filed only the minimum required financials with the Securities and Exchange Commission. The investigation shows that the story about Lernout's booming sales has been fake. The columnist reveals "it wasn't until Lernout filed 10-Qs and 10-Ks [annual and quarterly reports] that the full magnitude of its troubles became clearly evident."

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