Nortel Cites Further Delay in Re-filing of Financials

Nortel Networks announced a further delay in the filing of its past financial statements. The company, which had earlier promised restatements in October and then Novembers, said it is targeting completion within 30 to 60 days. Nortel noted that it must file its 2003 report with the SEC by December 15 or the New York Stock Exchange may commence suspension and delisting procedures. http://www.nortelnetworks.com