San Antonio (Feb. 9, 2004) -- A top executive of Lancer Corp., which has been accused of "illegal acts" by its former outside auditor amid an investigation into its dealings with Coca-Cola Co., is standing by the findings of an audit committee investigation that found no evidence of accounting irregularities, according to published reports.

Lancer president and chief operating officer Christopher D. Hughes said he was "surprised and obviously disappointed" by the Big Four firm's conclusions and defended the audit committee's investigation as "exhaustive," The Wall Street Journal reported.

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