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NO SMILEY HAPPY FACES HERE? THE NORTH FACE IN TURMOIL

          NASDAQ "halted trading of shares" of The North Face on
     Thursday as "shareholder lawsuits mounted against" the CO
     sporting goods company, according to Dina Bunn of the ROCKY
     MOUNTAIN NEWS.  Groups of shareholders filed "five separate
     class-action suits against" The North Face following the
     company's announcement that it is "auditing its accounting
     procedure and expects to restate its financial reports" for
     '97 and '98.  The complaints allege The North Face
     executives reported "false financial results and exaggerated
     sales increases, which led to inflated stock prices." 
     Shares of The North Face are down 52% from a high of $27 on
     March 11 of last year.  The stock closed at $13 on Thursday
     when trading stopped (ROCKY MOUNTAIN NEWS, 3/12).
          IN FOCUS: The North Face is the subject of the WALL
     STREET JOURNAL's "Corporate Focus" and Coleman & Berner
     write, "Just because urban kids are falling in love with a
     brand of apparel doesn't mean investors should" (WSJ, 3/12).

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