other material
confidence high
sentiment negative
materiality 0.75
Reading International restates Q2, Q3 2024 financials due to $3.6M liability error; cites material weakness
READING INTERNATIONAL INC
- Restating unaudited financials for Q2 and Q3 2024 due to $3.6M misstatement in accounts payable and accrued expenses.
- Material weakness in internal control over financial reporting identified for those periods.
- Prior evaluations of disclosure controls and procedures for Q2 and Q3 2024 should no longer be relied upon.
- Company will amend Form 10-Qs for Q2 and Q3 2024 with restated financials and MD&A.
- Audit Committee and management discussed matters with independent auditor Grant Thornton.