MLNK stock halted, restates earning from 07 forward.
Trading in shares of ModusLink Global Solutions, Inc. (MLNK: News ) was halted. The company has received an inquiry from the SEC regarding its treatment of rebates associated with volume discounts provided by vendors. As a result of the accounting evaluation conducted to date, the company said it expects to restate financial results from fiscal 2007 through first two quarters of fiscal 2012. The company also announced the retirement of its President and Chief Executive Officer Joseph Lawler and departure of William McLennan, as president, global operations. The company is also delaying the filing of its Form 10-Q for its third quarter of fiscal 2012.