AremisSoft Halted as Controversy Swirls

Updated from 9:23 a.m.

AremisSoft

(AREM)

was halted at the open pending further information after trading down 15.7% preopen on the

Island

ECN. A

RealMoney

column by Herb Greenberg Wednesday and an article in

The New York Times

this morning questioned the actual value of a contract with the Bulgarian government which the software maker has said is worth $37.5 million. Both reports put the figure at under $4 million.

The company also issued a press release Wednesday defending itself against a perceived attack by short-sellers, including a 19-point rebuttal of an "anonymous" report slamming the company. AremisSoft said it wasn't asked to verify any of the information in the report, most of which it claims is false.