Alleged accounting irregularities at Colonial

Yikes. Sound familiar to anyone? From the AP: “The Company has been informed that the alleged accounting irregularities relate to more than one year’s audited financial statements and regulatory financial reporting, and the Company’s Board of Directors and Audit Committee are making every effort to determine the impact of these alleged accounting irregularities on the Company’s financial statements and regulatory financial reporting,” Colonial said. (read the entire AP report below.)