Business Services Industry
Finances of Irvine, Calif.-Based Network Server Developer to Be Investigated.
Knight Ridder/Tribune Business News, July, 2002
By Andrew Galvin, The Orange County Register, Calif. Knight Ridder/Tribune Business News
Jul. 12--IRVINE, Calif.--Lantronix Inc. disclosed Thursday that it is being investigated by the Securities and Exchange Commission over the events leading to its recent restatement of financial results.
The Irvine-based company, which develops network servers that allow any computer device to be accessed over the Internet, said it has met with the SEC and is cooperating in the investigation.
In May, the company fired its chief financial officer, Steven V. Cotton, "for performance reasons," according to then-Chief Executive Fred Thiel.
Later that month, Thiel stepped down to become chief technology officer as the company said it would have to...
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