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Force Protection (FRPT)

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Force Protection finds weaknesses in its accounting system Force Protection Inc. announced that it has found material weaknesses in its accounting system, which can affect its management evaluations and annual audits, and can lead to restatements, delisting from NASDAQ stock market and legal issues. The company had earlier restated its annual reports for 2003 through 2005 and amended its annual report for 2006. The company feels that the personnel were not properly skilled in a few accounting procedures. This problem affects its financial reports after December 31, 2006. This news led to a decrease in its stock price.

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