I have looked back over the news and for the life of me can't find a thing about restatements prior to the 1/29 announcements. Does anybody know when it was first announced that there would be restatements?
Being delisted because they were not able to restate their financials on time IS NEW. That's the reason for the sudden drop. It doesn't look good when a company has to restate their numbers for the last 5 years in the middle of an overall financial crisis. On top of it, it cannot meet deadlines which were imposed with ample time in advance.
Among other things, they need to include a total of 200 minority holdings in various equities not previously accounted for. The question is: were they trying to hide losses in these equitites?