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Reissuance Restatement

Reissuance Restatement


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.

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