By Colin Kellaher
VIA optronics on Friday said an ongoing review of its internal controls and compliance has uncovered deviations involving its founder and other employees.
The Nuremberg, Germany, supplier of interactive display systems said the review, which covers 2017 through 2022, found discrepancies in areas such as expense recording and reimbursement, company credit-card usage for personal transactions, inadequate documentation of vehicle usage, and irregularities in vacation days.
VIA said the deviations primarily involved founder Jurgen Eichner, who had been CEO since 2005 before being replaced in August, and a limited number of other employees.
VIA said the extent of the potential violations, and any response by the company or others, remains uncertain, adding that the timing of the internal review process will result in a further delay of the filing of its 2022 Form 20-F annual report with the U.S. Securities & Exchange Commission.
VIA said it expects it will be able to file the form 20-F in early 2024, and that the New York Stock Exchange has granted an extended trading period through May 16, 2024.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 17, 2023 06:42 ET (11:42 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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