August 27, 2000
Internet Wire to turn over records
Author: JT Smith
The US Securities and Exchange Commission has issued a subpoena in order to track the source of a falsified report claiming that Emulex had lower profits than expected. This caused a drop in the stock of 50% to 55$ a share, which then ralied back up to within 7$ of the original price when the report was found to be fraudulent.
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