Companies continue to delay quarterly filings at an increasing pace, and a growing number of these postponements appear related to issues raised by Section 404 of the Sarbanes-Oxley Act, according to a recent study of third-quarter results by proxy research firm Glass Lewis.
At least 61 companies with market caps exceeding $100 million sought more time to file their September quarterly results. This compares with 30 in the second quarter and 36 in the first quarter, according to the analysis.
