Bubbly? Shares Surge For Companies With Weak Accounting SystemsMani
The share prices of nearly 32 companies – from GrubHub to GoPro -- that reported material weaknesses in their accounting systems last year have surged by an average of 42% since their stock debuts, reveals a Proskauer Rose study. The study from the New York law firm found that about 30% of companies that went public last year acknowledged that they were at serious risk of incorrectly reporting their financial information.
Investors’ risk-taking mindset overlooks key metrics
Ever since the passage of the Sarbanes . . .
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