BusinessCompany NewsIMAX sued over financial statements

IMAX sued over financial statements

Lawsuit launched in New York

Big screen cinema group IMAX is being sued for allegedly filing misleading
statements about its financial health.

According to contactmusic.com the class action lawsuit alleges that IMAX made
misleading statements in the fourth quarter of last year to attract a buyer or
merging partner.

The lawsuit further alleges that the financial statements included revenue
from cinemas, which had not even opened.

IMAX is already facing a probe the SEC into its accounting practices and has
said it will respond to the inquiry, although it has yet to do so.

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