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DOT-COM STRIFE Critical Path Tries To Regain Footing Amid Sales Scandal.(A)(Internet & TechnologyY)
Byline: Brian Deagon
Investor's Business Daily
Like other dot-coms in 1999, Critical Path Inc. was a big winner.
Its stock soared 230% on its first day of trading. Critical Path also lined up several name-brand customers for its e-mail services.
But the company is now looking like just another dot-bomb. On Friday, Critical Path put President David Thatcher and William Rinehart, the vice president of sales, on leave.
It also formed a committee to investigate "a nu
mber of transactions that put into question the company's financial results." Critical Path said fourth-quarter results "may be materially misstated."
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