Koss says Nasdaq halts trading of its shares

AP News
Posted: Dec 21, 2009 4:27 PM

Koss Corp. said Monday that Nasdaq halted trading of its stock due to the discovery of unauthorized transactions and that a vice president of finance had been put on administrative leave.

Sujata Sachdeva, the vice president, was put on leave pending the results of an internal investigation conducted by a special board committee to determine if the transactions affected the company's financial statements.

The company also said that law enforcement officials were involved.

Koss makes headphones, speakerphones, computer headsets and other audio accessories.

Shares of Koss, based in Milwaukee, closed Friday at $5.51.