Leslie Fay Cos. Reports Financial Irregularities: The apparel maker, which has been involved in an accounting scandal, said an internal review found $81 million in false entries made in its books over a three-year period. The New York firm also said it is retaining its chairman but stripped him of financial responsibilities. It named a new financial officer after firing the controller and chief financial officer, who were at the center of the investigations. The company said the accounting irregularities occurred mostly in the 1992 fiscal year. But it has revised its financial statements for recent years. The company’s stock rose 62.5 cents to $3.375 on the NYSE.
From Times Staff and Wire Reports