You’d better double-check those compensation figures before filing your next disclosure document or you may be needlessly inviting additional SEC scrutiny.
On Monday The Boston Globe ran a follow-up piece to an earlier story in which it identified 34 Massachusetts-based public companies which reported incorrect compensation figures for reasons such as “typos, mistakes in addition and other inadvertent blunders.”
Most of the companies, when initially interviewed, stated that they had no intention of correcting the errors, which they all viewed as immaterial. However, in its follow-up piece, the Globe indicated that the Commission now plans to look into a number of the cases. One law school professor interviewed for the piece even suggested that the Commission consider questioning the companies’ certifying accountants. … Surely they had calculators?
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