Marrone Bio Innovations announces audit committee investigation
Davis, California, USA
September 3, 2014
Marrone Bio Innovations, Inc. (MBI)[NASDAQ:MBII] today announced that, at the recommendation of management, the Audit Committee of its Board of Directors has commenced an internal investigation after management learned of documents calling into question the recognition of revenue in the fourth quarter of 2013 for an $870,000 transaction. The Audit Committee has retained independent legal advisers to assist it in this investigation.
In addition, the Audit Committee has determined that the company's financial statements for the fiscal year ended December 31, 2013, the unaudited interim financial statements for the three month period ended March 31, 2014 and the three- and six- month periods ended June 30, 2014, should no longer be relied upon as being in compliance with generally accepted accounting principles.
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Website: http://marronebioinnovations.com/ Published: September 3, 2014 |
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