Company x is required to restate its financial statements. based on one study, what is typically the market's reaction to the restatement: 

A. market may penalize the stock price for a three-day period after the restatement. 

B. there should be no effect as the market "bakes" into stock prices anticipated restatements. 

C. it depends on whether the restatement is a positive or negative adjustment and who is responsible for the restatement within management.

D. stock price might increase because management was able to identify the restatement illustrating strong internal controls.