We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Financial Restatements Increase In 2006

Law360 (March 6, 2007, 12:00 AM EST) -- Stock options backdating breathed new life into financial restatements in 2006, which declined for larger companies and increased for smaller companies, according to a new report by research firm Glass Lewis & Co.

The paper, “The Errors of Their Ways,” found that companies with U.S.-listed securities filed 1,538 financial restatements in 2006, up 13% from the previous year. About one out of every 10 public companies filed a restatement last year, compared with one for every 12 in 2005.

The report's perhaps most provocative item is...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.