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Keyword: tycofraud

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  • Tyco Posts Loss on Huge Charges Related to New Accounting Woes [David Boies Alert]

    04/30/2003 6:03:11 PM PDT · by Fractal Trader · 8 replies · 195+ views
    Wall Street Journal (subscriber pages) ^ | 30 April 2003 | MARK MAREMONT
    <p>BOSTON -- Tyco International Ltd., acknowledging a raft of new accounting problems, took big charges to clean up its books and reported a $468 million loss for its fiscal second quarter.</p> <p>Some investors said the latest accounting problems, the fourth announced by Tyco since October, further eroded the credibility of the giant conglomerate's new management team. But others were cheered by the quarter's strong cash flow, and were optimistic that Tyco may have finally put most of the bookkeeping issues behind it.</p>