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Mills Corp. Wraps Up Internal Investigation

CHEVY CHASE, MD-The company will be restating its financial statements for 2001-2004 and the first three quarters of 2005.

By Erika Morphy | Updated on January 09, 2007

(To read more on the debt and equity markets, click here.)

CHEVY CHASE, MD-After a last minute delay last year, Mills Corp. has announced that it has completed its investigation into several accounting issues, the results of which were detailed in a Form 8-K filed with the SEC. Mills will restate financial statements for 2001 through 2004 and the first three quarters of 2005.

The SEC filing states that Mills will more accurately state the company’s interest capitalization, indirect project cost capitalization, capitalization of direct leasing origination costs, grand opening and market costs, evaluation of predevelopment project and acquired construction in progress, and empire tract transfer among other things.

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