ThyssenKrupp issued the following footnote in the interim financial statements for the first quarter ending December 31,

Question:

ThyssenKrupp issued the following footnote in the interim for the first quarter ending December 31, 2007:
On the basis of the authorization granted by the Annual Stockholders' Meeting on January 18, 2008, the Executive Board of ThyssenKrupp AG resolved on January 31, 2008 to purchase up to around 15.8 million treasury shares before the authorization expires on July 17, 2009. This represents around 3% of the capital stock.
a. Is this a type I or type II subsequent event? Explain your answer.
b. Were the changed to reflect this decision?
c. Why was this information disclosed? Why would outsiders be concerned about the purchase of treasury stock?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...