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Trading of A-Power Halted After Auditor Resigns
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Trading of A-Power Halted After Auditor Resigns
Trading in A-Power Energy Generation Systems Ltd (NASDAQ:APWR) was halted today after its independent auditor MSCM LLP resigned.MSCM stated in its letter dated June 26, 2011 that it was resigning because A-Power had failed to retain a qualified independent forensic accounting firm to evaluate certain business transactions that MSCM stated was necessary for the firm to complete its audit for the company’s 2010 financial statements in a timely manner.As a result of MSCM's withdrawal, A-Power and members of the Audit Committee of its board of directors will be meeting with other qualified independent auditing firms.Shares of A-Power Energy Generation Systems are trading down 1.78% at $1.66.
Video Length: 0
Date Found: June 27, 2011
Date Produced: June 27, 2011
View Count: 0
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