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Restatements break through to a new record

Nearly one out of 10 U.S. public companies--1,420 in all--filed a restatement in 2006, up 13% from the record number of restatements set in 2005, ...

By Staff Writer | Updated on April 10, 2007

Nearly one out of 10 U.S. public companies–1,420 in all–filed a restatement in 2006, up 13% from the record number of restatements set in 2005, according to a study by Glass Lewis & Co. In fact, over the past four years, the study recorded that 2,931 companies, or about 23% of the nation’s public companies, filed at least one restatement and 683 companies restated two or more times.

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