On January 25, 2024, SiTime disclosed that it had “identified a correction required to be made in its historical condensed consolidated statements of cash flows for each of the first three quarters of 2023.” The Company claimed the correction relates to “the misclassification of ‘interest received upon maturity of held-to-maturity securities’ as an investing activity instead of as an operating activity.”
On this news, SiTime’s stock price fell $4.60, or 3.8%, to close at $116.53 per share on January 26, 2024, thereby injuring investors.
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