New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 20, 2013
20:47 EDTSMSSims Metal advises inventory adjustments related to UK operations
Sims Metal Management Limited advises the market that it has identified that the carrying value of inventory in its UK business is materially overstated. The company currently believes the inventory adjustment to be circa $60M and relates to both changes in the assessment of the net realizable value of certain stock and to book to physical adjustments. The preliminary findings indicate the situation has arisen in the context of control failures and potential fraudulent conduct by local and regional plant management. A Special Committee of the Board has been formed to take responsibility for the investigation that is in progress.
News For SMS From The Last 14 Days
Check below for free stories on SMS the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for SMS

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use