Nortel investors get jittery as vendor restates again

12 Mar 2004

Shares of Canadian equipment vendor Nortel Networks fell yesterday following the company’s announcement that it would once again be restating its financial results. Nortel said it will restate its full year 2003 results and did not rule out going further back, despite restating its 2000 and 2002 financials last October. Nortel’s stock was driven down by as much as 15% in early trading yesterday, before closing down 7.4% at CAD8.40.