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Santa Ana, Calif.-Based Sound-Technology Firm Explains Earnings-Report Delay.
Knight Ridder/Tribune Business News, October, 2002
By Tamara Chuang, The Orange County Register, Calif. Knight Ridder/Tribune Business News
Oct. 30--SANTA ANA, Calif.--After abruptly postponing its earnings report last Thursday, SRS Labs Inc. has now explained why: Its auditor, Deloitte & Touche LLP, resigned that day.
The sound-technology company also said that two directors quit earlier in the same week.
In a letter filed Tuesday with the U.S. Securities & Exchange Commission, Deloitte & Touche said it was quitting as auditor because of "contradictory statements" from the company about whether it was rehiring a former chief financial officer whom the auditor had previously questioned.
"D&T advised management that it was no longer able to rely on the representations of the...
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