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Vitesse turmoil.


Vitesse Vitesse is a Dutch football club from Arnhem, which was founded on May 14, 1892. The idea of conceiving a football team stemmed from the club's early roots as a cricket club.  Semiconductor Corp. fired three top executives--including company co-founder and Chief Executive Louis Louis, titular duke of Burgundy
Louis, 1682–1712, titular duke of Burgundy; grandson of King Louis XIV of France. He became heir to the throne on the death (1711) of his father, Louis the Great Dauphin.
 Tomasetta--following allegations that stock options might have been awarded inappropriately.

The three officials, including Chief Financial Officer Yatin Mody MODY Maturity onset diabetes mellitus of young Endocrinology A mild form of type 2 DM, with onset before age 25. See Type 2 DM.  and Executive Vice President Eugene Eugene, city (1990 pop. 112,669), seat of Lane co., W Oregon, on the Willamette River; inc. 1862. A processing and shipping center in a farming area, the "Emerald City" has lumbering, food-processing, and microchip and other electronics industries.  Hovanec, were put on suspension by the Camarillo-based chip maker last month following news reports suggesting stock option grants might have been back-dated to take advantage of stock price increases.

Vitesse shares dropped 20 percent on Wednesday to close at $1.48. The company, which has received a Nasdaq delisting Delisting

When the stock of a company is removed from a stock exchange.

Notes:
Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange.
 notification because of the delayed filing of its most recent quarterly report, said it has expanded its internal investigation of the options grants to include a review of accounting practices that may have affected its reported cash positions.

Christopher Gardner and Shawn Hassel, who have been acting chief executive officer and acting chief financial officer, respectively, have been named permanently to those posts.
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Title Annotation:Vitesse Semiconductor Corp's fires Louis Tomasetta, Yatin Mody, Eugene Hovanec
Publication:Los Angeles Business Journal
Article Type:Brief article
Geographic Code:1USA
Date:May 22, 2006
Words:150
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