Shares in Nortel Networks fell more than 10% after the telecoms equipment maker said it had placed two senior executives on paid leave of absence. The Canadian firm said chief financial officer Douglas Beatty and controller Michael Gollogly were on leave pending completion of a review of the accounts.
Nortel had previously warned it was likely to revise its 2003 results.
"They haven't learned the basic rule, which is 'get the bad news out there all at once'," said one analyst.
In afternoon trading, Nortel shares were at $5.69, down 11.5% on the day.
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