Emerald Holding restates Q1 2022 financials; net income overstated by $6.5M

Emerald Holding, Inc.

Net income overstated $6.5M due to failure to accrue $5.1M liability for insurance proceeds payable to third party.
Previously issued Q1 2022 financial statements should no longer be relied upon; amendment to be filed.
Additional material weakness: control activities for payment obligations upon insurance claim recognition did not operate as designed.
Immaterial $1.6M error in 2021 also to be corrected in balance sheet revision.

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