Item 4 02 Restatement Short
In plain terms
When a company tells the SEC their previous financial statements can't be trusted, it's the most negative 8-K disclosure they can file — short for six months.
How it works
8-K Item 4.02 (Non-Reliance on Previously Issued Financial Statements) is by SEC rule one of the strongest negative-information disclosures — management has concluded prior financials cannot be relied upon. Documented -8% event-day return and -12% drift over 6 months.
Live results
0 times picked on its own · 1 times inside a blend (1 beat the stock) · updated 2026-07-06Data dependencies
- Daily prices
Adjusted-close OHLCV for every US-listed ticker; primary price feed.
- SEC 8k events
Item-coded 8-K events (1.01 material agreements, 4.02 non-reliance, etc.).
Expected edge
- Reported return
- -12% over 6mo
- Tested over
- T+1 to T+180d
Files 2012; -8% event-day, -12% over 6mo.
Related families
When a company files an 8-K announcing a major restructuring or plant closure, the bad news isn't fully priced on day one — short for two months while the operating weakness leaks out.
When a company quietly amends its charter or bylaws, it's often putting up takeover defenses or entrenching management — historically these moves predict ~3 months of underperformance.
When a company starts filing many more 8-Ks than usual, it's often because something bad is being staged — short the stock through the disclosure storm.
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