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Veritas To Restate Three Years Worth Of Earnings

Veritas Software has uncovered a series of accounting abuses that will force the business software maker to recalculate its results for the past three years, causing a delay that may threaten the company's listing on the Nasdaq Stock Market.

The Mountain View, Calif.-based company said Monday that an internal investigation identified improper accounting for some revenue and expenses during 2001 and 2002, producing inaccuracies that also spilled over into 2003. Read more.