FORM 10-K/A GAMCO Investors, Inc. - Gabelli

Explanatory Note
As further discussed in Note A Restatement to the Consolidated Financial Statements, this Form 10-K/A of GAMCO Investors, Inc. (the “Company”) constitutes Amendment
No. 2 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2006, which was initially filed with the Securities and Exchange Commission on
March 16, 2007. On August 9, 2007, the Company amended Form 10-K to restate the Consolidated Financial Statements and amend Management’s Discussion and Analysis
of Financial Condition and Results of Operations (Including Quantitative and Qualitative Disclosure about Market Risk) in Part I, Items 1 and 2, respectively, to reflect the
reversal of certain previously accrued expenses for investment partnerships compensation.
The purpose of Amendment No. 2 is (1) enhancement of the following disclosures within the notes to the condensed consolidated financial statements: additional descriptions of
the restatement to the Company's condensed consolidated financial statements (Note A), additional disclosures regarding available for sale securities and the Company's
accounting policy for other than temporary impairments of available for sale securities (Note B), enhancement of the definition of investments in partnerships and affiliates (Note
C), background for the usage of, business purpose of, and economic impact of kickout rights within the Company's investments in partnerships and affiliates (Note C), and
changes to controls and procedures described within Item 4, (2) revision of the Company's evaluation of disclosure controls and procedures and changes in internal control over
financial reporting described within section 9A.
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