Nortel%20Says%20Canada%20Plans%20Accounting%20Probe
Nortel Says Canada Plans Accounting ProbeNortel Says Canada Plans Accounting Probe
Monday August 16, 8:27 pm ET
SAN FRANCISCO (Reuters) - Nortel Networks Corp. (NYSE:NT - News; Toronto:NT.TO - News) said on Monday the Royal Canadian Mounted Police told the company it will begin a criminal investigation into Nortel's financial accounting.
"These matters have been the subject of an ongoing review by the RCMP," the Brampton, Ontario-based telecommunications equipment company said in a statement, adding it "will continue to cooperate fully" with the probe by the federal law enforcement agency.
Last week, Nortel said it will announce preliminary first- and second-quarter results on Aug. 19.
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