IMMERSION CORP (IMMR): auditor change — Immersion restates prior quarters due to BNED accounting errors; employee suspended

IMMERSION CORP

Board concludes Q3 FY2025, Q2 FY2025, and Q2 FY2024 financials should no longer be relied upon.
Correcting cost of digital sales: cost of sales up $13.1M for Oct 31, 2024; up $11.2M for Jan 31, 2025.
$3.5M of sales in Q3 FY2025 did not meet revenue recognition criteria; sales and receivables decreased.
Material weaknesses in internal control over financial reporting and disclosure controls expected for FY2025.
Payment processing employee suspended; BNED has contacted SEC and intends to cooperate fully.

item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

IMMERSION CORP reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On September 8, 2025, the Board of Directors (the “Board”) of Immersion Corporation (the “Company”) concluded that the Company’s previously-issued unaudited interim condensed consolidated financial statements for the fiscal third quarter and nine months ended January 31, 2025, the fiscal second quarter and six months ended October 31, 2024, and the second quarter and six months ended June 30, 2024, contained in its Quarterly Reports on Form 10-Q (the “Non-Reliance Periods”), as well as its disclosures related to such financial statements, including any reports, earnings releases, and investor presentations, and related communications issued by or on behalf of the Company with respect to the Non-Reliance Periods (the “Previously Issued Financial Information”), should no longer be relied upon.

View on SEC.gov

8 auditor changes filed in the last 30 days. Browse all auditor changes →

IMMERSION CORP filing history →

Source: SEC EDGAR

accession 0001058811-25-000008

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.