Deloitte & Touche LLP has dropped Merisel Inc. from its auditing roster after the common stock of the former high flyer in the technology distribution industry was delisted by the Nasdaq.
Deloitte & Touche told the El Segundo-based company on Dec. 15 that it was resigning, effective that day, according to Merisel’s Form 8-K. Merisel, which was denied an appeal on the stock matter by Nasdaq, faced delisting because it has no active business operations and essentially exists as a shell corporation. That was also the reason for Deloitte’s decision to drop Merisel.
Deloitte has also expressed concern regarding the investigation of the alleged fraud by Merisel’s former president and CEO Timothy Jenson in connection with a D & H; Services’purchase of software licensing assets from Merisel valued at $5.5 million. Deloitte has asked Merisel to investigate whether Jenson had access to the company’s financial reporting system and whether he had a relationship with D & H; Services or its principals. Merisel has said it will examine Jenson’s involvement. Jenson resigned his position in mid-November after 11 years with the company.