To correct the incorrect financial statements, an Austin based medical device manufacturer estimates the cost as $28 million. In the third party accounting costs the company incurred $ 16 million in the recent SEC filing and it will spend another $12 million to correct the quarterly statements for the years 2012 – 2014. This shows the company would have earned 15 cents less/share than it has reported.  READ ALSO: How to manufacture your medical devices in India?, Why Invest in India?.

The company has not yet filed its earnings statements for the 3^rd and 4^th quarter of 2014, annual earnings statements, 1^st and 2^nd quarter of 2015. The company will be able to file in December the earliest, but not sure which filings they may have completed by the time. This delay might cause violation of regulations of New York Stock Exchange (NYSE). NYSE has issued a warning to file its annual report before September 17. READ ALSO: Entry Strategies for Foreign Investors in India.