Disclosure Insight: Babcock & Wilcox Enterprises, Inc. – BW $7.32 US Mkt Cap: $608.7 mm Disclosed SEC Investigation(s) Again Confirmed as On-going.
Babcock & Wilcox’s formal and protracted SEC accounting investigation expanded – Again.
Babcock & Wilcox has a formal and protracted SEC accounting investigation that appears to have recently expanded, yet again. We think many investors have become complacent to the risk this carries. Most of the related disclosures are no more than cut-and-paste versions of earlier ones. Easy to ignore. However, key details continue to be lacking; even as this investigation has become sizable, protracted, and continues to expand. In today’s report we take you through the history and how this investigation has steadily expanded over time. This includes disclosures made this year, in 2021, where we found language in the 10-K that compels follow-up.
As a side note, in the first half of 2021, B&W filed registrations for a new debt and a preferred offering. None of the related registration statements mentioned SEC investigative activity. Full report available for clients at our website.
Only logged-in clients can see and access our full report.