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Maybe they were stunned by all the commotion…

TASER International (TASR) , the stun gun maker and one-time Wall Street darling, took a trip on the spin cycle when it filed this press release (after the closing bell, of course) to announce its restatement of 2005 earnings. The Company explained the restatement thusly:

Beginning in the first quarter of 2005, the Company experienced a significant increase in outside legal and other professional expenses. Certain of the invoices relating to the work performed were not received by the Company’s accounting department until after the Company had closed its books and reported its financial results for such periods due to delays on the part of third parties in delivering or communicating such invoices to the Company. As a result, certain invoices were recorded in the incorrect period.

Let’s translate that into plain English — TASER has so many pending lawsuits in so many different jurisdictions that it can’t keep up with its legal bills.

Let’s just hope they have more skill in defending lawsuits than they do in tracking how much they cost.