CIRCOR shares drop after accounting irregularities
14/03/2022 21:02
** Shares of industrial machinery manufacturer CIRCOR
International Inc CIR.N drop 4.5% to $22.50 after the bell
** Says co and an independent accounting firm discovered
irregularities in financial statements urn:newsml:reuters.com:*:nBwqSL6Ma
** CIR says it will refile financial statements for 2019
through 2021; also assessing effectiveness of internal controls
** Irregularities are tied to CIR's pipeline engineering
business unit, which is primarily operated out of Catterick,
England
** Also says it has engaged in preliminary discussions with
interested parties regarding a potential sale
** CIR has lost over one-tenth of its market cap so far this
year
(Reporting by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com;))