WASHINGTON, April 1, 2002 (PRIMEZONE) -- The Securities Sleuth, http://www.securitiessleuth.com, has just completed a review of Measurement Specialties (AMEX:MSS) and Lumenis Ltd. (Nasdaq:LUME)
On February 15, Measurement announced that it would delay reporting its third fiscal quarter results for the period that ended December 31, 2001, "pending resolution of certain accounting issues." This earnings release had originally been scheduled to appear after the close of business on the previous day. The curtain opened, but there was no one on stage ... But, the Sleuth believes there seems to have been a lot going on backstage.
On February 25, Lumenis announced: "that it had received a request from the U.S. Securities and Exchange Commission to voluntarily provide certain documents and information for the period commencing January 1, 1998. The request primarily relates to the Company's relationships with its distributors, and also asks for amplification of the Company's explanation of certain previously disclosed charges and write-downs." The Sleuth provides its viewers with a brief background on the long and contentious history of this Company.
As new financial irregularities and securities frauds emerge, the Securities Sleuth, http://www.securitiessleuth.com, keeps its readers up to date by looking "behind-the-scenes" to examine how they took place and to gauge their long-term impact on investors. More about these stories can be found on the Sleuth's Web site, at www.securitiessleuth.com.