ADTRAN Holdings Inc. Announces Need for Financial Restatements Due to Inventory Adjustment Error
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ADTRAN Holdings Inc. announced the need for financial restatements due to an inventory adjustment error at its subsidiary, Adtran Networks SE. This error resulted in a €5.7 million increase in the 2024 loss and necessitated revisions to consolidated financial statements for 2023 and 2024. The company will file amended reports with the SEC and address a material weakness in internal controls, while also rescheduling its Annual Meeting.
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