Inverness Medical Innovations says SEC investigating revenue recognition matter

By Ted A. Knutson

Washington, Dec. 16 - Inverness Medical Innovations, Inc. said Friday it recently learned that the Securities and Exchange Commission has issued a formal order of investigation in connection with the previously disclosed revenue recognition matter at one of its diagnostic divisions.

The company's audit committee to its board of directors and its counsel completed an independent investigation into these issues prior to Inverness's restatement of its earnings in August, the company said.

Inverness said it intends to fully cooperate with the agency.

The announcement was made in an 8-K filing with the SEC.

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