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3 years ago
STOCKS NEWS EUROPE-Logitech drops on audit concerns
May 22, 2014 / 7:32 AM / 3 years ago

STOCKS NEWS EUROPE-Logitech drops on audit concerns

Shares in Logitech drop 3.9 percent to a five-month low after the computer accessories maker says its audit committee is conducting an investigation into some of its accounting matters related to its earlier-stated results.

"The outcome and impact of the resolution of various accounting matters is unpredictable," Vontobel analyst Michael Foeth writes in a note. "In the meantime the issues may create some uncertainty that weighs on the stock."

The Switzerland-based computer accessories maker says it will delay filing its fiscal 2014 results with a U.S. regulator and may revise financial statements from prior years.

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