Nortel Networks 8-K 2009
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 9, 2009
NORTEL NETWORKS CORPORATION
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code 905-863-7000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Item 8.01 Other Events.
On November 9, 2009, Nortel Networks Corporation (Nortel) announced that following discussions with the Staff of the U.S. Securities and Exchange Commission (SEC), Nortel and Nortel Networks Limiteds (NNL) periodic reports, beginning with the reports for the quarter ended September 30, 2009 (Q3 Form 10-Qs), will no longer present combined financial statements of the Europe, Middle East and Africa (EMEA) subsidiaries which have filed for creditor protection as well as those entities they control (collectively, the Equity Investee) in its consolidated financial statements. Instead, Nortel and NNL will present the financial statements for the Equity Investee under the equity method of accounting from the date of filing for creditor protection. This change in presentation is not expected to affect the reported amount of net earnings (loss), but will affect the financial statement presentation as the financial position and results of operations of the Equity Investee will be presented net on a single line in the balance sheet and statement of operations, respectively.
As a result of the incremental work necessary to reflect this change in financial statement presentation and managements discussion and analysis, Nortel filed a Form 12b-25 today with the SEC for an extension to the prescribed filing deadline for the Q3 Form 10-Qs. Thus, Nortel and NNL plan to file their Q3 Form 10-Qs and corresponding Canadian filings by November 16, 2009.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: November 9, 2009