
Even so, one provision of Dodd-Frank (Section 954) directs the SEC to create rules for the "clawback" of executive compensation in situations where material financial statement restatements occur. I will do a little more detailed research on this later today, time permitting, but this morning's Mattersight SEC notice of late filing of the 10-Q offers us this insight -- from Mattersight's own admissions:
". . .(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or a portion thereof?
x Yes ¨ No. . ."
So Mattersight admits that this is a material restatement, it is about to post. Hmmmm. Clawbacks, anyone?
Mattersight has opened off almost 10 per cent (on its half of its entire daily average volume in the first hour, on the MASDAQ-OTC), this morning -- down almost 90 cents. Geez -- I hate being right all the time.
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