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AEXAY.US
id: 941

Atos (AEXAY) Qualified Audit Opinion Case

  • In Apr 2021 Atos disclosed a qualified audit opinion.
  • On it, $AEXAY fell 10%, losing $927M+ shareholder value.
  • Investors may suspect Atos of failing to timely disclose its internal control issues, which led to their losses.
On April 1, 2021, Atos revealed that its auditors issued a qualified opinion on two US legal entities representing 11% of 2020 consolidated revenue.
  • Auditors identified internal weaknesses that led to accounting errors.
  • Auditors also identified the risk of overriding controls.
  • Atos started the investigation by external firms.
  • Auditors had not been able to confirm the financial statements’ accuracy.
On this news, $AEXAY fell 10% and lost over $927 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Atos and its executives failed to timely disclose the Company’s inability to maintain adequate internal controls, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Shock Event Date
01 April 2021
Collecting participants…