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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowConseco Inc. today delayed for another two weeks the filing of its annual report while it continues to provide information and analysis to try to satisfy concerns its auditor has about the company’s health.
Carmel-based Conseco announced March 2 that its auditor, PricewaterhouseCoopers LLC, might issue a “going concern” warning in Conseco’s annual report because the company’s cash levels have fallen and it is close to breaking some requirements on $915 million in bank loans.
That announcement caused Conseco’s stock price to swoon. It closed Monday at 36 cents a share, down from a 52-week high of $12.34 last May.
Conseco was expected to file the annual report today, but this morning said it expects to file it on March 31. In the meantime, Conseco officials are still working with the auditor and working to complete the company’s year-end financial statements.
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