Mirage At Media Vision

Media Vision Technology Inc., acclaimed just months ago as one of Silicon Valley's highest fliers, suddenly is under siege. On May 10, the company acknowledged it is being investigated for "possible securities issues" by the Securities & Exchange Commission and the FBI. Three board members have resigned, and fourth-quarter profits of $8.5 million will be revised to a loss. There's more to come, says one of two remaining outside directors: "The management of the company is being reviewed by the board," says G. Bradford Jones, a general partner with venture-capital firm Brentwood Associates.

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