PENN TRAFFIC DELAYS SPARK IRE

SYRACUSE, N.Y. - Some investors are growing impatient with Penn Traffic here.A New York-based hedge fund has demanded Penn Traffic release its financial statements, hold a meeting of its shareholders and explain compensation arrangements for its executives. The request came after Penn Traffic again delayed delivery of its financial reports last month, citing an ongoing accounting investigation.The

SYRACUSE, N.Y. - Some investors are growing impatient with Penn Traffic here.

A New York-based hedge fund has demanded Penn Traffic release its financial statements, hold a meeting of its shareholders and explain compensation arrangements for its executives. The request came after Penn Traffic again delayed delivery of its financial reports last month, citing an ongoing accounting investigation.

The demands were detailed in a letter mailed late last month to Penn Traffic'

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