We provide the latest news
from the world of economics and finance
(RTTNews) - CPI Aerostructures Inc. (CVU) said it has reached a settlement with the U.S. Securities and Exchange Commission regarding the restatement of its financial statements for fiscal periods spanning from January 1, 2018, to December 31, 2022.
The company said it has undertaken to fully remediate its material weakness in internal control over financial reporting or "ICFR" and have effective ICFR and disclosure controls and procedures or "DCP" by December 31, 2024, to publicly disclose, concurrent with the filing of the Company's 2024 Annual report on Form 10-K, whether in management's opinion, the Company has fully remediated its material weaknesses in ICFR and has effective ICFR and DCP and to certify its compliance.
If the company fails to comply with these undertakings, a civil monetary penalty in the amount of $400,000 will be due to the SEC by June 30, 2025.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
© 2024 Lime Trading (CY) Ltd
Lime Trading (CY) Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission in accordance with license No.281/15 issued on 25/09/2015. The "Just2Trade" trademark is owned by LimeTrading (CY) Ltd.
Registration Number: HE 341520
Address: Lime Trading (CY) Ltd
Magnum Business Center, Office 4B, Spyrou Kyprianou Avenue 78
Limassol 3076, Cyprus
Disclaimer:
All promotions, materials and information of this website may have applied conditions. Please contact the Company for further details
Trading on financial markets carries risks. The value of the investments can both increase and decrease and the investors may lose all their investment capital. In case of a leveraged product, the loss may be more than the initial capital invested. Detailed information on risks associated with trading on financial markets can be found in General Terms and Conditions for the Provision of Investment Services.