Investigation of RTI Surgical Holdings, Inc.

RTI Surgical Holdings, Inc. (RTIX) Reveals SEC Investigation of its Accounting Practices 

In January 2018, RTI assured investors that its revenue recognition after adopting the new amended accounting standards implemented by the Financial Accounting Standards Board in 2016 was “substantially consistent with the Company’s current revenue recognition policies” and RTI did not expect a material impact on its financial position when recognizing revenue from its current contracts with the new standard. However, on March 16, 2020, RTI announced that it would be unable to timely file its Form 10-K for fiscal year 2019, citing an internal investigation of the Company’s revenue recognition practices by its Audit Committee. RTI disclosed that its internal investigation had been precipitated by an SEC investigation related to the periods 2014 through 2016. On this news, shares of RTI fell over 14% to close at $2.35. The stock continues to decline.

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