Quantum Announces Substantial Completion of Internal Investigation

Published on Sep 14, 2018 in Quantum

This post was originally posted to the Quantum website.

SAN JOSE, Calif., Sept. 14, 2018 /PRNewswire/ — Quantum Corp. (NYSE: QTM) today announced that the Special Committee of its Board of Directors has substantially completed its internal investigation.  The Committee conducted the investigation with the assistance of independent advisors.

In connection with the investigation, the Board of Directors has concluded that there were misstatements in the Company’s previously issued consolidated financial statements and other financial information relating to the recognition of revenue for certain transactions prior to satisfying the criteria for revenue recognition required under U.S. GAAP.  The misstatements gener…

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