Levi's Revised

San Francisco–based denim giant Levi Strauss & Co. announced it had overstated its newincome results in 2001 by $26 million and its third-quarter 2003 results by $4.9 million. The announcement came on the heels of the recent dismissals of two of the company’s tax executives. Levi’s blamed the error on reporting inaccuracies in the company’s 1998 and 1999 tax returns.