GM to restate earnings for 2001 and possibly subsequent years
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GM to restate earnings for 2001 and possibly subsequent years
GM to Restate Earnings as SEC Investigates
5 Years' Results Examined
By Sholnn Freeman
Washington Post Staff Writer
Thursday, November 10, 2005; Page D01
General Motors Corp. said yesterday it plans to restate earnings for 2001, and possibly for the past five years, over an issue related to one of multiple investigations into the automaker's accounting by the Securities and Exchange Commission.
In an SEC filing released after the close of financial markets, GM said it estimates that its 2001 profit was overstated by $300 million to $400 million, or 25 percent to 35 percent. The automaker said it has not determined the final restatement amount for that year or subsequent years. A spokesman for GM would not comment on the filing or other SEC investigations.
5 Years' Results Examined
By Sholnn Freeman
Washington Post Staff Writer
Thursday, November 10, 2005; Page D01
General Motors Corp. said yesterday it plans to restate earnings for 2001, and possibly for the past five years, over an issue related to one of multiple investigations into the automaker's accounting by the Securities and Exchange Commission.
In an SEC filing released after the close of financial markets, GM said it estimates that its 2001 profit was overstated by $300 million to $400 million, or 25 percent to 35 percent. The automaker said it has not determined the final restatement amount for that year or subsequent years. A spokesman for GM would not comment on the filing or other SEC investigations.
http://www.washingtonpost.com/wp-dyn...110902613.html
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