5 Companies Fined for Masking Accounting Errors in Late Filings

Five companies have settled SEC charges that they didn’t inform investors of pending financial statement corrections as part of late filing notices.

The companies agreed to pay penalties ranging from $35,000 to $60,000 for not disclosing to investors substantial shifts to the companies’ financial results as required when they informed the market they couldn’t meet filing deadlines, according to separate orders the SEC released on Tuesday.

All five warned investors that previous results contained accounting errors soon after issuing the late filing notices, which spanned 2021 and 2022, according to the SEC.

Source: 5 Companies Fined for Masking Accounting Errors in Late Filings