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An SG Cowen analyst, Drew Peck, said the initial restatement was "only a small piece of the puzzle".
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This time Google has the whip hand with Friend Connect, calling Facebook's initial bluff and forcing yet another restatement of the Facebook tight wire balancing act between protecting its cloud and user privacy from the data portability meme.
After an initial drop of 8% on the news of the restatement of reserves in January, Shell's shares have fared rather well (see chart).How could that possibly be, given the SEC's definition?
Executives at Interpublic, the world's second-largest agency company, said S.E.C. staff members informed them of "an informal inquiry" into the earnings restatement, which will reduce profit by $181.3 million for the six-year period, compared with an initial estimate of $68.5 million made in August.
But it bears restatement.
Restatements of a company's results soon after flotation are rare because the securities commission requires a great deal of disclosure and fact-checking before an initial public offering.
Berengar's restatement of these views aroused severe opposition.
The earnings restatement is likely to be material.
His restatement was a long time coming.
The restatement cut net income for fiscal 2001 by 90percentt.
The company announced the potential restatement last month.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com