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News Breaks | | | | November 13, 2012 | | 14:14 EDT |  | RDN | Radian Group files to delay 10-Q
Radian Group was unable to file its Quarterly Report on Form 10-Q for the three months ended September 30 within the prescribed time period on or before November 9 without unreasonable burden or expense. As described in Note 17 of Notes to Condensed Consolidated Financial Statements in the company's Form 10-Q, the company experienced a material subsequent event involving its financial guaranty business on November 9. The occurrence of this subsequent event was not certain until approximately 3:00 p.m. (Eastern) on November 9. The company determined at that time it was necessary to update its Form 10-Q disclosure to reflect the subsequent event. During this time the company also experienced unforeseen technical problems involving its third-party, web-based SEC reporting system. The late occurring subsequent event combined with the unforeseen technical problems ultimately delayed the company's filing of the Form 10-Q past the prescribed due date. The company has completed the filing of its Form 10-Q, which was filed within the five calendar days following the prescribed filing due date. | |
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