Breaking news!

July 12, 2005

Normally, I don’t post this late at night, but this release that Metris Cos. (MXT) just put out about a Wells notice it received today deserves a brief post. Notice the time at the top of the release: 11 p.m., which can only be described as a silly attempt to try and bury the news. Not only have the markets been closed for hours, but the SEC has been too, so any Wells notice that Metris received had to have occured much earlier today. Did it really take the lawyers and the PR folks this many hours to write a two paragraph release? Or were they really hoping that an 11 p.m. dump would essentially guarantee that the news would be ignored?

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