Avnet 2003 Annual Report Download - page 50
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Please find page 50 of the 2003 Avnet annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.NOTICE REGARDING CONSENT OF ARTHUR ANDERSEN LLP
Section 11(a) of the Securities Act of 1933 provides that in case any part of a registration statement,
when such part became eÅective, contained an untrue statement of a material fact, or omitted to state a
material fact required to be stated therein or necessary to make the statements therein not misleading, any
person acquiring a security pursuant to such registration statement (unless it is proved that at the time of such
acquisition such person knew of such untruth or omission) may sue, among others, an accountant who has
with his consent been named as having certiÑed any part of the registration statement, or as having prepared
any report which is used in connection with the registration statement.
On April 17, 2002, we dismissed Arthur Andersen LLP (""Arthur Andersen'') as our independent
auditors. After reasonable eÅorts, we have been unable to obtain Arthur Andersen's written consent to the
incorporation by reference of Arthur Andersen's audit report with respect to our Ñnancial statements as of
June 29, 2001 and for the years ended June 29, 2001 and June 30, 2000 into our registration statements on
Forms S-3 No. 333-39530 relating to shelf oÅerings of securities of Avnet on a delayed or continuous basis
under Rule 415, No. 333-94957 relating to the resale of common stock of Avnet issued in connection with the
acquisition of Eurotronics B.V., and No. 333-107474 relating to shelf oÅerings of securities of Avnet on a
delayed or continuous basis under Rule 415; Forms S-4 No. 333-58852 relating to common stock of Avnet
issuable upon exercise of options and warrants originally granted by Kent Electronics Corporation, 333-36970
relating to common stock of Avnet issuable upon exercise of options and warrants originally granted by Savoir
Technology Group, Inc. and No. 333-86721 relating to common stock of Avnet issuable upon exercise of
options and warrants originally granted by Marshall Industries, and Forms S-8 No. 2-96800, No. 33-29475,
No. 33-43855, No. 033-64765, No. 333-45735, No. 333-55806, No. 333-00129, No. 333-17271,
No. 333-45267, No. 333-89297 and No. 333-101039 relating to common stock of Avnet issuable under the
1984, 1988, 1990, 1995, 1997 and 1999 Stock Option Plans, the 1994 and 1996 Avnet Incentive Stock
Programs, the Avnet Deferred Compensation Plan, the Marshall Industries Stock Option Plans and the Avnet
Employee Stock Purchase Plan, respectively. Such audit report is included in this Form 10-K.
Under these circumstances, Rule 437a under the Securities Act of 1933 permits Avnet to Ñle this
Form 10-K, which is incorporated by reference into the above listed registration statements, without a written
consent from Arthur Andersen. However, as a result, Arthur Andersen will not have any liability under
Section 11(a) of the Securities Act for any untrue statements of a material fact contained in the Ñnancial
statements audited by Arthur Andersen or any omissions of a material fact required to be stated therein.
Accordingly, you would be unable to assert a claim against Arthur Andersen under Section 11(a) of the
Securities Act.
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