Autobytel Inc., in the midst of a multiyear financial restatement and facing delisting from Nasdaq, said Wednesday its controller is leaving.
The Irvine-based company, which connects car shoppers with dealers via its Web site, said Matthew McDowell, controller and vice president, is departing at the end of the week.
Autobytel missed the deadline for filing its 2004 annual report because of stricter rules required by the Sarbanes-Oxley accounting reform act.
The company is restating results going back to 2002 because of a “material weakness” in its internal controls, Autobytel said in a filing with the Securities and Exchange Commission.
Now it appears likely Autobytel will be delisted from Nasdaq in coming days. The company was set to meet with exchange officials on Monday.
But Autobytel said in its filing it might not be able to file required documents ahead of the meeting.
In November, Autobytel’s chief financial officer, Hoshi Printer, stepped down when the company announced the restatement.
Printer has remained a consultant to the company.
