Deloitte & Touche is investigating contentions made by a recent preliminary report done for an unsecured creditors committee that alleges evidence of wrongdoing by former Video Update managers, including misuse of expense accounts. Movie Gallery says delaying the court hearing was necessary so Deloitte & Touche or any other auditors can investigate the allegations.
If the deal still goes through, Video Update would become a subsidiary of Dothan, AL-based Movie Gallery, with about 330 stores.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
