More fundamentally, the financial statements of a company that has engaged in backdating may require restatement.
Once the restatement is out of the way, there are some factors in Bristol's favor.
At many institutions, clawbacks only come into play when there has been a financial restatement.
The company also is n the middle of a financial restatement for 2010, 2011 and Q1 2012.
That includes an embarrassing restatement of first quarter earnings in early May, worsening Thompson's already damaged credibility.
With a formal restatement, a company must file a special form, 8-K, calling attention to its corrections.
FORBES: Is The SEC's Ponzi Crusade Enabling Companies To Cook The Books, Enron-Style?
Once the restatement is out of the way, some analysts believe that Bristol could have some real potential again.
These factors would require a restatement, with class action litigation in the offing.
Depending on what gets changed, the Operation Compassion restatement could have a significant ripple effect throughout the charity world.
FORBES: Charity Eyes Quarter-Billion-Dollar Write-Down In Value Of Goods Handled
The earnings restatement had been previously announced, but Bristol included yet another tweak.
Is the Apple options problem and forthcoming earnings restatement weighing on Jobs?
Nevertheless, many U.S. companies have voluntarily adopted them, though most apply only in the event of a financial restatement.
The total amount earned over the period of the restatement is essentially unchanged.
Normally, the lockup period last 180 days but after the restatement the lockup will now expire on June 1.
As usual, this restatement of the Blairite creed is both admirable and maddening.
When the auditors finally came up for air, they repeatedly asserted that the restatement would not affect Amerco's net earnings, the suit says.
And his simple restatement of his legal position to the members of the grand jury is hardly the stuff of a perjury prosecution.
Morgan Stanley's proxy last year said clawbacks can be triggered for conduct leading to a restatement, a significant financial loss or other reputational harm.
Bristol Chief Financial Officer Andrew Bonfield will discuss the restatement at the SG Cowen Health Care Conference at 8 A.M. tomorrow in Boston.
Capital One's previous clawback provisions covered only its top executive officers and triggered only in the event of a financial restatement or willful misconduct.
Even more important, he notes, is the reason for the restatement.
He does acknowledge feeling burned by the size of the restatement.
The restatement would not affect the company's cash position, he added.
As part of the restatement, the company will adjust the financial statements for errors identified during prior periods, recording the adjustments in the appropriate historical period.
FORBES: KIT Digital Implodes; Finds Accounting Errors, Restating Results; Former CEO Bids
But the casino operator added that these findings "do not have a material impact" and "do not warrant any restatement of the company's past financial statements".
The best of these require pay to be returned whether the executive was directly responsible for the accounting fraud that led to a restatement or not.
And Groupon, which only went public last November, just went through a painful restatement of its revenues which caused its stock to drop 17% in one day.
But in today's political climate, updating the case for capitalism requires a restatement of old truths in ways that Americans from across the political spectrum can accept.
For a number of years, close calls in this regard appear to have been resolved in favor of restatement, with significant consequences for both corporate executives and shareholders.
FORBES: Accounting Fraud Cases Are Dead. Long Live Accounting Fraud Cases.
After repeated delays in filing the corrected statements, Lime announced in December that it was broadening the potential of restatement to include its 2009 financial statements.
应用推荐