Welcome to the Monday Morning Dump!

Most footnoted* regulars are probably already familiar with the Friday Night Dump — a term that I coined for those filings made after 4 pm EST on Fridays. I’ve been talking about this for years and even have a subscription-based newsletter that highlights 3-12 of those filings made during the 90 minutes after markets close, and the SEC remains open.

But there’s also something called the Monday Morning dump, which are filings made after 5:30 pm EST on a Friday. Those get filed with EDGAR, but they don’t become visible until 6 am on Monday morning (or Tuesday if Monday is a federal holiday, as it was last week).

While the Friday Night Dump has become a bit more tricky to manage now that I live in Paris, instead of LA, the Monday morning dump has become a lot easier! So when I cracked open EDGAR at noon today, I saw this filing by Gen Digital (formerly Norton Lifelock) that caught my attention. In a nutshell, Gen disclosed that a prior judgement against the company for $1.3m has now morphed into a $53m judgement during the appeals process.

The judgement has to do with violations of the False Claims Act and you can find some more details here. What’s pretty clear is that Gen purposefully filed this so late on a Friday that it wouldn’t be visible until Monday, especially in light of the fact that it learned about the change in circumstances on Jan. 16.