Nortel’s 10-K Goodies

Nortel has finally filed its 10-K with the SEC, and it includes a whole bunch of goodies if you're willing to sift through 250+ pages. If you're an AGM junkie, the big day for Nortel will be June 29 in Toronto. Perhaps the most intriguing part of the 10-K is a section about the independent revenue review conducted by WilmerHale. It includes this tantalizing statement: "The revenue independent review found that, in an effort to meet internal and external targets, the senior corporate finance management team, none of whom are current employees, changed our accounting policies several times during 2000, either to defer revenue out to a subsequent period or pull revenue into the current period….this conduct was driven by the need to close revenue and earnings gaps." In 2000, John Roth was Nortel's CEO while Frank Dunn was CFO.

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One Response to “Nortel’s 10-K Goodies”

  1. Dunn's A Crook Says:

    I guess Frank Dunn learned his trade of thievery from John Roth. And Now, Dunn is suing Nortel. That’s a laugh. See page 47 of the 10KA.

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