UNIVERSAL LOGISTICS HOLDINGS, INC. (ULH): Material weakness disclosed
Severity scores the disclosed filing signal, not a judgment about the company or its securities.
What was disclosed
Company’s intermodal reporting unit. Management concluded that the error that resulted in the restatement is consistent with a previously identified material weakness in the Company’s internal control over financial reporting related to the accounting for complex and non-routine transactions and the preparation and review of
Why it matters
A material weakness is a deficiency in internal control over financial reporting that could allow a material misstatement to go undetected.