Battling text messaging organization Plus SMS Holdings has downgraded its consolidated earnings by 44 per cent blaming costs associated with alleged criminal actions of an executive. Plus SMS, which last year said it had made "unrealistic statements" to the market, announced this morning it had terminated the employment contract of senior manager Nicolas Barrera Rios, for gross misconduct and alleged criminal fraud. "PLS has completed its internal investigation of the matter and has initiated legal action to recover potential damages for lost earnings," the company said in a statement.
Via National Business Review
Monday, 16 July 2007
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