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Avaya; Kellogg; speculative-grade default rate; PeopleSoft and Oracle; Cendant.
Stephen Taub, CFO.com | US
February 12, 2004

The SEC, which has been investigating NorthWestern's accounting practices, issued a subpoena to its former subsidiary Expanets Inc. in December. Avaya obtained possession of the records that are the subject of the subpoena as a result of the company's November 2003 acquisition of substantially all the assets and certain liabilities of Expanets. In January 2004 the SEC issued a subpoena directly to Avaya, requesting the production of substantially similar documents.

The company said is cooperating with both NorthWestern and the SEC in responding to the requests.