Reported Earlier, CPI Aerostructures Settles With SEC Over Financial Restatements
Portfolio Pulse from Benzinga Newsdesk
CPI Aerostructures has settled with the SEC over financial restatements. The company aims to remediate its internal control weaknesses by December 31, 2024, and will disclose its compliance in the 2024 Annual report. Failure to comply will result in a $400,000 penalty.
June 21, 2024 | 6:45 am
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CPI Aerostructures has settled with the SEC over financial restatements and aims to fix internal control weaknesses by December 31, 2024. Failure to comply will result in a $400,000 penalty.
The settlement with the SEC and the commitment to remediate internal control weaknesses are significant for CPI Aerostructures. However, the impact on the stock price in the short term is neutral as the company has until the end of 2024 to comply, and the penalty is relatively small compared to potential long-term benefits of improved controls.
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