Local News

Canadian Authorities Investigate Nortel's Accounting Practices

Posted August 17, 2004 5:32 a.m. EDT

— One of the Triangle's bigger private employers is facing some serious problems.

The Royal Canadian Mounted Police is investigating Nortel Networks' accounting practices. U.S. regulators are also looking into the company's books.

Nortel employs about 3,000 people in the Triangle.

Despite the news, Nortel's stock remained steady, only dropping about 1 percent.