SureWest said that, based on the investigation, approximately $2 million of its assets remain outstanding without proper documentation.
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The company has received a representation that it will recover the $2 million shortfall, but added that it is unsure of the representation’s strength and intends to “pursue all of its civil remedies to recover any shortfall.”
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SureWest said it has launched a formal inquiry into the matter.
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The company is not yet able to assess the impact on financial statements already filed due to the preliminary nature of the investigation. However, it did say that any financial statements impacted, if any, should be limited to 2003.
