Not Looking Pretty At Media Vision
The other shoe has dropped at onetime Silicon Valley star Media Vision Technology. Make that six shoes: On May 17, three top executives--including founder and CEO Paul Jain--resigned from the maker of personal computer multimedia gear. The resignations follow allegations by current and former executives that the company falsified sales records and pushed retailers too hard, prompting product returns, unexpected losses, and a joint FBI-SEC probe. The company has hired Price Waterhouse to work with its creditors and banks. Jain has denied wrongdoing.
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