Costco Wholesale Corporation
Company Name | Costco Wholesale Corporation |
Stock Symbol | COST |
Class Period | June 07, 2018 to October 25, 2018 |
Lead Plaintiff Motion Deadline | January 07, 2019 |
On October 4, 2018, Costco announced ''in its upcoming fiscal 2018 Annual Report on Form 10-K, it expects to report a material weakness in internal control. The weakness relates to general information technology controls in the areas of user access and program change-management over certain information technology systems that support the Company's financial reporting processes. The access issues relate to the extent of privileges afforded users authorized to access company systems.'' On this news, shares of Costco fell from a close of $231.68 per share on October 4, 2018, to a close of $218.82 on October 5, 2018, thereby injuring investors.
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