Shakeup at Speech Recognition Software Leader

Soon, the name of one of the most popular speech recognition software providers may be changed due to the resignation of the company's namesakes.

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.

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