Reported Earlier, CPI Aerostructures Settles With SEC Over Financial Restatements
Reported Earlier, CPI Aerostructures Settles With SEC Over Financial Restatements
The Company has undertaken to fully remediate its material weakness in internal control over financial reporting and have effective ICFR and disclosure controls and procedures 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.
公司已承諾在2024年12月31日之前全面糾正其在財務報告內部控制方面的重大缺陷，並制定有效的ICFR和披露控制和程序，在提交公司2024年10-K表年度報告的同時公開披露，無論管理層是否認爲公司已完全糾正了ICFR中的重大缺陷，制定了有效的ICFR和DCP並證明其合規性。如果公司未能遵守這些承諾，則將在2025年6月30日之前向美國證券交易委員會處以40萬美元的民事罰款。