Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, March 16, 2007

GM Says Ineffective Controls Threaten Performance

GM's Annual 10-K Report, filed 6 weeks late, disclosed that "ineffective" controls over financial reporting threatened its performance.  Yesterday it released five years of restated financial statements and reported a $2 billion loss for 2006.  See NYTimes, G.M. Says It Has Found Serious Flaws in Acounting ; WSJ, GM Takes Steps to Improve Its Financial Reporting.

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