Home > Glossary

Reissuance Restatement

Reissuance Restatement

Definition

Reissuance Restatement — a financial restatement revision that pertains to a serious, material accounting error and that therefore requires a reissuance of a past financial statement. Reissuance restatements contrast with revision restatements, which address relatively small, less consequential accounting errors that do not require the reissuance of a past financial restatement. Reissuance restatements sometimes result in lawsuits against the directors and officers of a corporation in which shareholders allege that the directors and officers violated their fiduciary duties to protect the interests of shareholders. These types of claims are known as financial restatement claims.

Related Terms

Related Products

User ID: Subscriber Status:Free