Interpublic Group faces delisting from the the New York Stock Exchange unless it files its 2004 annual report or those for the first and second quarters of this year.


Interpublic Group (IPG) has to file its 2004 annual report or those for the first and second quarters of this year. Otherwise it might be delisted from the New York Stock Exchange.

Interpublic Group said yesterday, it would restate earnings for 2000 to 2004 because of problems in accounting for revenue, acquisitions and lease expenses.

In a filing the Securities and Exchange Commission (SEC) cited weak financial controls and a decentralized operational structure.

The SEC has been investigating IPG’s accounting practices since early 2003. In the filing, IPG disclosed that its internal investigations revealed “possible employee misconduct” and accounting errors that it called “qualitatively material.” The investigations were primarily into agencies located outside the U.S.

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