Molex Retains Counsel to Investigate Unauthorized Activities in Japan
09 April 2010 - 7:15PM
Business Wire
Molex Incorporated (NASDAQ: MOLX)(NASDAQ: MOLXA), a global
electronic components company, has learned that an individual
working in Molex Japan’s finance group obtained unauthorized loans
from third party lenders in Molex Japan’s name which we believe to
be in the range of $175 million and to have been used to trade on
margin in unauthorized accounts in Molex Japan’s name. We also
believe that the individual has misappropriated cash from Molex
Japan which resulted in a loss in the range of $15 million. The
individual has admitted to forging documentation in arranging the
transactions. We have retained outside legal counsel, and they are
retaining forensic accountants, to investigate the matter and the
extent of our liability, if any, for the unauthorized loans.
Molex Incorporated is a 71-year-old global manufacturer of
electronic, electrical and fiber optic interconnection systems.
Based in Lisle, Illinois, USA, the Company operates 41
manufacturing locations in 17 countries. Revenue for the fiscal
year ended June 30, 2009 was $2.6 billion. The Molex website is
www.molex.com.
Editor’s note: Molex is traded on the NASDAQ Global Select
Market (MOLX and MOLXA) in the United States and on the London
Stock Exchange. The Company’s voting common stock (MOLX) is
included in the S&P 500 Index.
Molex Incorporated (MM) (NASDAQ:MOLX)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Molex Incorporated (MM) (NASDAQ:MOLX)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
Echtzeit-Nachrichten über Molex Incorporated (MM) (NASDAQ): 0 Nachrichtenartikel
Weitere Molex Incorporated News-Artikel