UTStarcom Warns of Possible Sarbanes-Oxley Delay

UTStarcom's (UTSI Quote) accounting problems got a little messier Monday.

The maker of close-range wireless networks said it is expanding a review of its internal controls. The move came as the company restated second-quarter numbers and warned that its top executives may not be able to sign off in timely fashion this year on the company's financials.

The bookkeeping tangle at the Alameda, Calif., provider of personal access communications systems started to unravel last week, when the company filed with regulators for a five-day extension on its quarterly report. The company sought the delay after it found a questionable $1.9 million transaction. ...