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SEC Subpoenas Fischer Imaging Records

Jun 11, 2003 | Denver Business Journal

The Securities and Exchange Commission has issued subpoenas for financial statements from Denver-based Fischer Imaging Corp. (Nasdaq: FIMGE) from 2000, 2001 and the first three quarters of 2002.

Fischer officials said they've also received "notice of a formal order of investigation" from the SEC.

Last month, former Colorado Lt. Gov. Gail Schoettler was named chairman of the board of Fischer and president and CEO Jerry Knudson resigned "for family reasons." Harris Ravine was named his replacement.

In April, Fischer announced that Schoettler would co-examine its past bookkeeping practices and Fischer officials said they would not file the company annual report on time. The company also said it would restate results for 2000, 2001 and the first three quarters of 2002.

"The company is working diligently to file its Form 10-K for the year ended Dec. 31, 2002 as soon as possible," they said in a statement.

Schoettler, a former state treasurer, has been named to "a special committee for financial matters to investigate the events leading to the probable need to restate its financial statements," along with Ravine, company officials said. The law firm of Hogan & Hartson has been retained in the investigation as well.

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