Companies Delay Filings, Blame Sarbanes

Businesses Not Making Deadline to File Their Reports
By Chris Cziborr

Orange County Business Journal Staff

A pair of Orange County businesses are among the hundreds of publicly traded companies that recently said they didn’t meet a March 16 deadline to file their annual reports with the Securities and Exchange Commission.

The holdup: Section 404 of the landmark Sarbanes-Oxley Act, legislation that was passed in 2002 in the wake of accounting scandals at Enron Corp., Arthur Andersen and others.

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