Sunbeam Delays SEC Filing
HFN: The Weekly Newspaper for the Home Furnishing Network, June, 1998
Sunbeam Corp. finally admitted that news reports of the Securities and Exchange Commission's inquiry into its accounting policies and practices are true, and that it has delayed filing with the SEC a registration statement for its zero coupon convertible senior subordinated debentures due 2018.
The company's auditor, Arthur Andersen, won't consent to the inclusion in the registration statement of its opinion on the 1997 financial statements, pending completion of a review of the statements. Sunbeam said the delay in filing the registration statement for the debentures won't constitute a default, although it will require payment of a small charge to debenture holders for each day it delays filing past June 23. The consumer products company said it is in...
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