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Unformatted text preview: Although, some may see this restatement as relatively small, in the corporate culture driven to beat or exceed projected earnings by pennies per share this restatement is critical; the restatement has changed the income statement thus devalued the financial performance of the company dating back to 2001. For those investors that have shares of Krispy Kreme Doughnuts (NYSE: KKD), this loss of revenue could have been a decisive factor to make an investment in the company or not. To make this clear, there has been a shareholder demand that Krispy Kreme sue any current or former directors or executives for these accounting errors. Krispy Kreme Doughnuts has failed to meet its accounting and financial reporting obligations to its shareholders and the public....
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This note was uploaded on 06/11/2008 for the course ECON 201900 taught by Professor Willoughby during the Spring '08 term at UCSD.
- Spring '08