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© 2008 SMP Marketing • ISSN 1420-3693 • www.localization.org
Money Talks
Dead, But Not Buried

John Freivalds, JFA Inc.

John Freivalds

It isn’t often that the localization industry figures are reported twice in the same week in The Wall Street Journal, the leading financial publication in the U.S.

Just when you thought that Lernout & Hauspie was dead, buried, and yesterday’s news, it starts cropping up again. This time a U.S. judge told KPMG Belgium, the Belgian arm of the U.S. accounting firm, to hand over its audit of L&H to the plaintiff attorney who represents shareholders defrauded by L&H. What makes this doubly interesting is that the Belgian accounting firm sued to have a fine of US$1.5 million daily levied against the plaintiffs for every day that they continued this suit. I guess this is the strategy of “the best defense is a good offense”. Well the Belgians lost this one, infuriating the judge presiding over this lawsuit, and they now have to turn over their audits of L&H.


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