ArticleLiventCNN1

ArticleLiventCNN1 - Livent does phantom biz August 10,...

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Livent does phantom biz August 10, 1998: 6:52 p.m. ET Broadway production firm discovers millions of dollars in accounting woes NEW YORK (CNNfn) - Livent Inc., an entertainment company backed in part by entertainment mogul Michael Ovitz, disclosed Monday that its new management has uncovered "serious" accounting irregularities that could represent "millions of dollars" of fake revenue. The developments came just weeks after Roy Furman, previously with investment bank Furman Selz, assumed control of the theatrical production company that was responsible for such Tony Award-winning shows as "Show Boat," "Kiss of the Spider Woman" and "Phantom of the Opera." "As shocked as we all are by this discovery, we believe Livent remains a viable company financially and is operationally and creatively very strong," Furman said in a statement. Some industry officials indicated Furman's presence at Livent has vastly helped the concern's credibility. "I would say Roy Furman is a very substantial, very intelligent financial partner in this
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This note was uploaded on 09/01/2010 for the course BAT4M BAT4M taught by Professor Katz during the Fall '05 term at Acadia.

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ArticleLiventCNN1 - Livent does phantom biz August 10,...

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