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June 14, 2002

* Microsoft Corp. co-founder Bill Gates sold more than $400 million worth of his shares in the software giant since early June and plans to sell millions more under a routine diversification plan, his spokeswoman said. According to a filing with the Securities and Exchange Commission, Gates sold a total of 8 million shares June 3 and 4 and he plans to sell 2 million more, worth about $99 million.

* Metromedia Fiber Network Inc. said U.S. securities regulators are investigating the accounting practices that led the fiber-optic network operator to restate 2001 results. Metromedia, which filed for bankruptcy protection last month, expects to restate results to a loss of as much as $5.36 billion.

* Peregrine Systems Inc., a San Diego software maker under investigation by the Securities and Exchange Commission, agreed to sell its supply-chain software unit and said it borrowed $50 million.

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