Quote:
Originally Posted by Bill Denton
No, Delisting is a sign that some paperwork was not filed in a timely fashion. That's what this whole thing is all about.
A while back, Avid became aware that there were problems with their books going back several years. Each year's "book" is built on previous years' "books", and since Avid had become aware that the previous books contained inaccurate data, they could not submit a report based on that data and claim under oath that the report contained correct data. Doing so could result in civil and/or criminal penalties against Avid and/or its executives.
Once again...it's really not a big deal...
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It is a big deal Bill. The accounting fees they face are incredible and inexplicable and the inability to get it done in what has already been a great amount of time are both signs that this certainly is a big deal.