Shakeup at Speech Recognition Software Leader
An SEC investigation into financial statement irregularities related to licensing issues in Europe have forced Jo Lernout and Pol Hauspie, co-chairs of Lernout & Hauspie , to resign their positions. They will be replaced by Roel Pieper, formerly the head of Tandem Computers Inc. The company's auditor, KPMG-Belgium, was unavailable for comment.
Although it is not yet known how the vacancies of the two chairs will affect the company's products, L&H will continue to operate provided it can properly maintain enough credit. The company's stock has fallen 95 percent since its high last March
The latest and most popular product of L&H is "Now You're Talking." With this product and its Dragon and Dictaphone lines, the company, until now, has maintained a solid market share among voice recognition software companies.