Message #36 From:
NewsBot Date: December 22, 2006 01:03:00 PM
VTSS News Vitesse Semiconductor Clarifies Recent Disclosure Regarding the Dismissal of Its Independent Public Accounting Firm
CAMARILLO, Calif.--(BUSINESS WIRE)--Vitesse Semiconductor Corporation (VTSS.PK) clarifies its disclosure on
December 19, 2006 regarding the dismissal of KPMG LLP as its independent
public accounting firm by stating that the dismissal was as a result of
Vitesse’s consideration of potential claims it
may have with respect to KPMG, which would impair its independence,
rather than any finding by the Special Committee that KPMG lacked
independence with respect to Vitesse prior to the date of the Special
Committee’s report to the Board of Directors
of Vitesse.
About Vitesse
Vitesse designs, develops and markets a diverse portfolio of
high-performance, cost-competitive semiconductor solutions for
communications and storage networks worldwide. Engineering excellence
and dedicated customer service distinguish Vitesse as an industry leader
in Gigabit Ethernet LAN, Ethernet-over-SONET, Fibre Channel, Serial
Attached SCSI, Optical Transport, and other applications. Vitesse
innovation empowers customers to deliver superior products for
Enterprise, Access, Metro, and Core applications. Additional company and
product information is available at www.vitesse.com.
Vitesse is a registered trademark in the United States and/or other
jurisdictions of Vitesse Semiconductor Corporation. All other trademarks
or registered trademarks mentioned herein are the property of their
respective holders.
Safe Harbor
Statements made in this release that are not historical facts are “forward-looking”
statements (as defined in the Private Securities Litigation Reform Act
of 1995) that involve risks and uncertainties and are subject to change
at any time. These forward-looking statements may include, but are not
limited to, statements containing words such as “anticipate,”“believe,”“plan,”“estimate,”“expect,”“hope,”“intend,”
and similar expressions. Factors that could cause actual results to
differ are identified in the public filings made by Vitesse with the
Securities and Exchange Commission and include the fact that we have
disclosed that you should not rely upon our published financial
statements and the fact that we have not filed all of our reports
required by the Securities Exchange Act of 1934. More information on
factors that could affect our business and financial results are
included in our public filings made with the Securities and Exchange
Commission, which are available on the web site of the Securities and
Exchange Commission, www.sec.gov.
The forward-looking statements involve known and unknown risks,
uncertainties and other factors that are, in some cases, beyond our
control. We caution investors that any forward-looking statements made
by us are not guarantees of future performance. We disclaim any
obligation to update any such factors or to announce publicly the
results of any revisions to any of the forward-looking statements to
reflect future events or developments.
