s website, www.crowncrafts.com.

Interviewer: “Mrs. Elliott, can you tell me about the day your husband, Olivia W. Elliott, confessed to lying in the Crown Crafts Inc. third quarter fiscal report for 2023?” Mrs. Elliott: “It was a strange day all around. I remember, it was a normal day at first. Olivia had been spending the day in his office, working on the fiscal report, as usual. But then, out of the blue, later that evening, he came home and gathered my family and I around the living room. He confessed that he had lied.

He told us he was troubled by a moment of recognition - something he could not explain. He said he felt “tugged” to tell the truth and so he did. He said it was two points in the disclosure.

He began with that he had lied about the net income for the third quarter, which he confessed was actually $1 million less then rapported. He also admitted that he had been less than forthright about the fiscal 2022 period. He confessed that the financial results were actually $6.3 million lower than reported.

It was a strange moment - and yet there was an air of peace that surrounded us. I believe he felt a relief after finally coming clean about these two points. It was a dramatic moment for my family, but we were all glad that he felt comfortable enough to open up about this information to us.”

Original Release: https://www.globenewswire.com/news-release/2023/02/15/2608547/6937/en/Crown-Crafts-Reports-Fiscal-2023-Third-Quarter-Results.html

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