EAST HILLS, N.Y.--(BUSINESS WIRE)--Pall Corporation (NYSE: PLL) today announced that the Audit Committee of its Board of Directors, on the recommendation of management, concluded that the Company’s annual and quarterly financial statements for the fiscal years 1999 through 2006 and for each of the fiscal quarters ended October 31, 2006, January 31, 2007, and April 30, 2007 should no longer be relied upon and that a restatement of some or all of those financial statements will be required. This conclusion results from the Company’s previously announced understatement of U.S. income tax payments and of its provision for income taxes. The Audit Committee has informed KPMG LLP, the Company’s independent registered public accounting firm, of its conclusion with respect to this matter.
