It's meaningless...an outgrowth of the Enron debacle a few years back. Here is what I consider the key statement to be:
"Based on its current discussions with its auditors, the Company does not believe that any of these potential deficiencies will result in any change to the Company's financial results for its fourth quarter and full fiscal year ended December 31, 2004 previously announced in its Current Report on Form 8-K dated February 3, 2005. "
Nice selloff today of those who can't read...the release of this news on a down day for the market just made it worse.
Oh, I can read & I can listen & all would mean a LOT less if the CFO @ CT did not resign prior to thanksgiving... THAT is what gives story some legs & not just the need for "squeaky" clean accounting-but do not kid yourself... there is a bit of a cloud here in the short run, sideways-yes...but don't just dismiss it.