SEC Enforcement Actions Reveal Continuing Importance of Accurate Disclosures

The SEC recently announced settled charges with Under Armour [NYSE: UAA] related to certain disclosure failures and making misleading statements to investors. The charges were notable, as the SEC enforcement action alleged that Under Armour engaged in manipulative revenue practices … Continue reading

Kingsway Financial Services, Inc. [KFS]: Extensive SEC Comment Letter Conversation Identifies Accounting Errors

Kingsway Financial Services, Inc. [KFS] was forced to restate financial statements to correct revenue recognition errors related to adoption of ASC 606 and its effect on warranty subscriptions and commissions The restatement was triggered by a 15-letter comment letter conversation … Continue reading

Five Years of Restatements Following Internal Investigation for MiMedx Group, Inc.

On June 7, 2018, MiMedx Group, Inc. [MDXG], a biopharmaceutical company, announced that the Company is going to restate previously filed financial statements for years 2012 through 2016, and the first three quarters of 2017. A financial restatement of this … Continue reading