Sunrise Provides Status Report on Special Independent Committee Investigation; Provides Updates on Management's Internal Control Review Efforts and on Legal Proceedings Sep 29, 2007
Special Independent Committee Investigation As previously disclosed, in December 2006, Sunrise's Board of Directors established a Special Independent Committee to review certain allegations made by the Service Employees International Union ("SEIU") that questioned the timing of certain stock option grants to Sunrise directors and officers over a period of time, and stock sales by certain directors in the months prior to the May 2006 announcement of the Company's accounting review ... The third... (PR Newswire)
GM still faces risks after landmark union deal Sep 28, 2007
GM has said the proposed trust covering $50 billion of liabilities will require an accounting review by federal regulators, suggesting a complex financial arrangement. But the initial hurdle for the No. 1 U.S. automaker is to get the deal approved by its workers. (ABC News -- Wire)
Willis' reports don't account for debts Sep 13, 2007
"The legal and accounting reviews related to Councilman Willis are continuing and include both the foundation and the campaign," Ross wrote in an e-mail to The Atlanta Journal-Constitution. "We are deferring any further comment until these reviews are complete.". (Atlanta Journal-Constitution)
Dell to Restate Four Years of Results Aug 18, 2007
Dell said the previously disclosed, internal accounting review was started in 2006 in response to inquiries from the Securities and Exchange Commission. The review found that "account balances were reviewed, sometimes at the request or with the knowledge of senior executives, with the goal of seeking adjustments so that quarterly performance objectives could be met.". (SmartMoney)
Analysts mixed after Dell says it will restate results Aug 18, 2007
Dell said the previously disclosed, internal accounting review was started in 2006 in response to inquiries from the Securities and Exchange Commission. The review found that "account balances were reviewed, sometimes at the request or with the knowledge of senior executives, with the goal of seeking adjustments so that quarterly performance objectives could be met." Dell chief financial officer Donald Carty said during a conference call with analysts that while most of the misconduct involved... (MarketWatch)
Cyanotech reports $7.4 million loss Aug 17, 2007
Cyanotech filed its annual report after requesting two deadline extensions in June and July, citing "technical accounting matters." Cysewski said an accounting review cost the company $700,000 in related fees and expenses. Entrepreneur Case Studies. (Pacific Business News, HI)
Accounting review limits Xerium earnings report Aug 10, 2007
They also expect earnings per share, excluding one-time items, of 20 cents; O'Donnell said the company couldn't give an EPS number until its accounting review is complete. Shares of Xerium, which employs some 3,800 people worldwide, were up 1 cent to $6. (Raleigh Triangle Business Journal, NC)
INSA, Gage ties probed, report says Aug 4, 2007
Last year, Burns said he supported an accounting review of INSA. ... An accounting review of INSA last year found incomplete employee records, a lack of detailed records on how it spent federal funds, and that its chief executive received three different salaries at the same time. (Missoulian, MT)
Philips says it will book $47.7M impairment charge on lowered value of its stake in Medquist Jul 7, 2007
Medquist, based in Mount Laurel, N.J., ran into trouble in November 2003, when a whistleblower alleged the company was engaged in improper billing practices, sparking accounting reviews. In June 2004, the company was delisted from Nasdaq Stock Market for failure to file earnings reports, though its shares continued to be traded over the counter. (San Diego Union-Tribune -- Business)
IMAX announces that it plans to file financial statements shortly Jun 30, 2007
In March 2007, the Company previously announced that it would delay filing its financial statements due to the discovery of certain accounting errors and subsequently broadened its accounting review to include certain other accounting matters based on comments received by the Company from the staff of the Securities and Exchange Commission ("SEC") and the Ontario Securities Commission ("OSC") ... The statements set forth in this press release are preliminary, reflect information currently known... (PR Newswire)
• Family of Red Apple assault victim can sue Unified Jun 20, 2007
"I'm especially amazed when the district has approved $200,000 to do an initial accounting review, but can't supply $100,000 to a boy who's been sodomized. ... I don't understand their priorities.". Joshua Dyess, 20, of Caledonia, has been charged with the assault. (Racine Journal Times, WI)
Haights Cross preferred holders in settlement talks, could result in controlling stake - sources Jun 9, 2007
The filing delay stems from an accounting review of the companys compensation expense, said sources familiar with the situation. The company has a 60-day cure period to resolve the issue. (FT.com -- Markets)
Novell: Microsoft's Halo Only Stretches So Far Jun 4, 2007
8 billion in the bank on April 30, a lot of money, and with the accounting review over, well, it's expected to buy back shares and make acquisitions. Hovsepian dismissed the fact that the Microsoft-Novell indemnification and patent protection may not be as some out there. (SYS-CON Media)
Dell, Direct-Sales Icon, Turns to Wal-Mart Stores to Revive Profit Growth May 31, 2007
The company also may disclose today the results of an internal accounting review. Dell said in March that it found evidence of misconduct and errors in its financial results. (Bloomberg)
Toys "R" Us Restates 2006 Net Income May 16, 2007
The company's accounting review also resulted in a correction to the company's deferred tax assets and liabilities. That impacted the company's balance sheet reducing its total assets by about $500 million to $7. (Atlanta Journal-Constitution -- Business)
U.S. reviews RIM options grants Apr 26, 2007
RIM has not been able to complete its financial filings while it completes its own accounting review. Shares of RIM were almost unchanged in extended hours trading on the news at $135. (Globe and Mail -- Business)
IMAX provides status update in connection with delayed filing Apr 13, 2007
The Company previously announced that it would delay the filing of its annual report on Form 10-K for fiscal 2006 due to the discovery of certain accounting errors and has since broadened its accounting review to include certain other accounting matters based on comments received by the Company from the SEC and Ontario Securities Commission ... The statements set forth in this press release are preliminary, reflect information currently known to the Company and are subject to change as a result... (PR Newswire)
RIM earnings miss analysts' expectations Apr 12, 2007
Administration expense during the quarter was higher than forecast because of legal, accounting and other fees in connection with the internal accounting review, the company said. RIM added that it anticipates a similar level of administrative costs in the current quarter. (Toronto Star)
IMAX commences Consent Solicitation from holders of its Senior Notes and announces two-thirds of required consents have already been obtained Apr 4, 2007
Important factors that could affect these statements include the outcome of the accounting review and related matters discussed in this press release, the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, the performance of films, the viability of new businesses and products, risks arising from potential material weaknesses in internal control over financial reporting,... (PR Newswire)
InPhonic's Dropped Calls Apr 4, 2007
The estimate is subject to change until InPhonic's accounting review is complete. The company also expects to revise its results for the year ended Dec. 31, according to an Apr. (BusinessWeek)
Duane Reade narrows quarterly loss Apr 3, 2007
The accounting review goes back to 2000 and isn't finished, Duane Reade said, noting that it will delay filing its annual report for 2006 until the review is complete. Duane Reade, which operates 248 stores, was purchased in 2004 by billionaire Robert Bass' Oak Hill Capital Partners Lp for about $700 million, including debt. (Newsday -- Business)
Dell Shares Decline After Accounting Review Uncovers Misconduct, Errors Mar 30, 2007
Dell Shares Fall After Accounting Review Reveals Misconduct. By Connie Guglielmo. (Bloomberg)
Accounting review delays Imax results Mar 30, 2007
Mar 29, 2007 08:22 AM Canadian press. Imax Corp. (TSX: ) is further delaying its audited financial results for 2006 while it continues a review of accounting errors over a six-year period. (Toronto Star)
IMAX to delay filing of 2006 10-K Mar 29, 2007
However, this and other statements set forth in this press release are preliminary, reflect information currently known to the Company and are subject to change as a result of the accounting review and restatement process, subsequent events and the completion of the audit of the financial statements by the Company's independent auditors, PricewaterhouseCoopers, LLP. The Company's aforementioned intention to seek bondholder consents to obtain additional time to file and the expected impact on... (Canada Newswire)
Imax further delays filing 2006 results as accounting review widens Mar 29, 2007
Enter the city, then press Submit. Visit the to get the latest temperatures. (Globe and Mail -- Business)
Accredited shareholder in talks to buy the subprime lender Mar 22, 2007
It has delayed filing its annual report because of an accounting review tied to the acquisition last year of another lender, Aames Investment Corp. Accredited is likely to write off a good portion of the Aames value it carried on its balance sheet. Hedge funds, however, have been trolling for good deals in the subprime sector. (San Diego Union-Tribune -- Business)
NYFIX Files 2005 Form 10-K Mar 7, 2007
Accounting Restatements NYFIX previously announced the completion of its internal review of historical stock-based compensation awards, as well as its overall accounting review. The review was conducted by current management, under the oversight of the Audit Committee and a special Subcommittee of the Audit Committee formed in connection with a restructuring of the Board of Directors and management that commenced in September 2005. (PR Newswire)
Return to Lender Mar 6, 2007
"The filing had plenty of unwelcome highlights: a full-year loss for 2006, an internal forensic accounting review, likely liquidity troubles that could lead to auditor doubting its ability to remain a going concern and regulatory investigations that could solidify the crisis of confidence in NEW. The crisis seems unlikely to be resolved in a reasonable timeframe for its creditors and insolvency is the most likely outcome, in our view, given what we know.". The feds are looking at potential... (SmartMoney)
Balsillie Resigns as RIM Chairman Mar 6, 2007
The error came to light following an accounting review ... In the statement, the company said the roles of chairman and CEO are being separated to comply with "current best practices in corporate governance." The accounting review was initiated as a result of a requirement to meet the guidelines of the Ontario Securities Commission, as well as the Securities and Exchange Commission in the United States. (eWeek)
RIM to Restate $250M After Options Review Mar 6, 2007
The company will file "as soon as practical" after finishing its accounting review, RIM said in a statement. The company said it will split the roles of chairman and CEO; Jim Balsillie resigned as chairman but will remain co-CEO with Michael Lazaridis. (CIO Information Network)
TMNG Global Announces Scheduling of Fourth Quarter 2006 Business Developments Release and Conference Call Feb 1, 2007
Jan. 31 /PRNewswire-FirstCall/ -- TMNG Global (Nasdaq: - ), a leading provider of management consulting services to the global communications, media and entertainment industries, today announced it will host a conference call to discuss fourth quarter 2006 business developments on Thursday, February 15, 2007 at 5:00 p.m. ET. Because of the ongoing stock option accounting review, the Company will not be in a position to announce full financial results for the fourth quarter until the Special... (Yahoo! Wire -- Entertainment News)
Cell Therapeutics, Inc. (CTI) to Restate 2006 Quarterly Financial Statements Jan 30, 2007
These risks and uncertainties include, but are not limited to, the final outcome of the Corporation's accounting review and actions that may be taken or required as a result of the expected restatement, and the conclusions reached by the Corporation's management, Audit Committee, Board of Directors and independent accountants based on the results of that review. For other factors that could cause the Corporation's results to vary from expectations, please see the section titled "Risk Factors" in... (PR Newswire)
Mills Corp. warns of possible bankruptcy Jan 11, 2007
Also on Tuesday, the retail company said it completed an internal accounting review and would restate some financial results because of errors. The restatement could cut shareholder equity by as much as $354 million, with the bulk of the reduction coming from items related to cost capitalization. (South Florida Business Journal, FL)
