Incidentally, in that second link, the one about the derivative suit filed against Belo, observers get a peek at the lawyers’ defense against the shareholders’ complaint:
Belo reported the overstatement on Aug. 5 after the end of New York Stock Exchange trading. The company’s shares had finished that day at $23.21; the next day they closed at $21.62. On Friday, shares closed at $24.77.
No harm, no foul. Right?