August 25, 2000

Company falls victim to bogus press release

Author: JT Smith

Emulex Corp. said on Friday it had been the victim of a hoax that caused its stock to plummet more than 50 percent, Reuters reported. A press release, reportedly put out on Web-based news dissemination service Internet Wire, said the company's chief executive had resigned and Emulex had been forced to restate 1998 and 1999 earnings, as well as revise the fourth quarter to a loss from a gain.

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