Quantum dismisses Grant Thornton, appoints CohnReznick as auditor; cites material weaknesses in internal controls

QUANTUM CORP /DE/

Audit Committee dismissed Grant Thornton as independent auditor effective Sept 30, 2025, after competitive process.
Grant Thornton's reports for FY2025 and FY2024 included going-concern explanatory paragraph; no adverse opinions or disagreements.
Material weaknesses in internal controls reported regarding controls environment, revenue recognition, manufacturing inventory, and warrants.
Appointed CohnReznick as new auditor for FY2026, subject to standard client acceptance procedures.
No prior consultations with CohnReznick on accounting matters during the past two fiscal years.

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