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News Breaks | | | | March 19, 2013 | | 17:14 EDT |  | MXWL | Maxwell says employees terminated, senior VP of sales, marketing resigns
Maxwell disclosed in a regulatory filing that the company is in the process of evaluating deficiencies in its internal controls over financial reporting, and has preliminarily concluded that it has material weaknesses in its internal controls. The company has therefore preliminarily concluded that its internal controls over financial reporting and disclosure are not effective. As a result of the investigation, certain employees were terminated and the company's senior VP of sales and marketing resigned. | |
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