Novell Postpones Quarterly Report and Yearly Financial Statements

Dec 06, 2007

Software giant Novell has postponed the publication of its figures for the fourth quarter, and for the whole financial year 2007.

The delay was triggered by questions raised by the Securities and Exchange Commission (SEC) concerning the first quarter figures for 2007 and on the past business year, 2006. Novell, and other corporations have been targeted by the SEC on account of irregularities with share options for employees.

Novell’s Chief Financial Officer Dana C. Russell calls the postponement of the quarterly report a purely cautionary measure. Novell is talking to the SEC and anticipates being able to give the SEC a satisfactory response on all counts. Without committing to the deadline, Novell anticipates having the quarterly report ready for publication by the 31 December deadline.

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