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Allou Overstates Results; Fires Execs

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By: TOM BRANNA

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Allou Healthcare Inc., a distributor of prescription drugs and consumer personal care products, on Thursday said it discovered that inventory and accounts receivable were substantially overstated and fired its senior executives.The company, which had four units forced into bankruptcy earlier this month, also said its lenders had filed additional involuntary bankruptcy petitions this week, seeking to place the parent company and two more operating units into Chapter 11.Allou said the total overst...

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