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Remember Comverse Technology (CMVT), the billing-software company that became a poster-child for stock-options back-dating? It’s the one whose former CEO fled to Namibia and has managed not to be extradited to the U.S. Well, on Monday, amid reports that the company’s assets will soon be snapped up by circling tech companies, Comverse filed its first [...]
Of all the creative excuses that companies tend to come up with when earnings disappoint, or when earnings are restated, the one that Scholastic (SCHL) came up with in the 10K it filed yesterday is definitely up there: The decline in profitability of the DTH business was primarily a result of the federal Do Not [...]
So you think your week was hectic? Dell Computer (DELL) has you beat. This week the company filed – count ‘em – five 10-Qs (here and here and here and here and here), a proxy statement and last year’s 10-K. As explained in this press release, the filings contain restated financial information stretching all the [...]
A decade ago, I edited a bunch of stories about a company called WellCare, a fast-growing HMO that was based in Kingston, N.Y. Just looking at this press release from Feb. 1995 — the presence of the words “record results” are one of the simplest, yet best contra-indicators around — makes me kind of misty. [...]
BearingPoint (BE) is, as the euphemism goes, facing challenges. The company, a bit of a frequent flyer here at footnoted (see here and here), has seen its stock price plunge from around $7.50 to $4.50 in the past 6 months as it struggles to catch up on its SEC filings, thanks to accounting errors dating [...]
